Funds News
- Ping An unit to set up fund venture
Date: 28-Dec-2007 Sources: (Shenzhen Daily)
PING An Securities, a unit of Shanghai-listed Ping An Insurance (Group) Co. of China Ltd., would set up a fund management joint venture with UOB Asset Management Ltd., a unit of Singapore's United Overseas Bank, the China Business News reported yesterday.
Applications to regulators were being prepared, the report said, adding that the venture would be headquartered in Shanghai. No further details were provided. Shenzhen-based Ping An, the second-largest insurer in China, has been seeking to enter the fund management business after it has expanded into securities, banking and trust.
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