PRESS RELEASE: Income Partners, the HK independent fixed income manager, announces the completion of WFOE PFM registration of its subsidiary
HONG KONG, March 16th 2020 - Income Partners Investment Management (Shanghai) Limited, a wholly foreign-owned enterprise (“WFOE”) of Income Partners, a leading independent Asia Fixed Income asset manager managing US Dollar and local currency Asian bonds, with a focus on Renminbi, has completed its private fund manager registration (“PFM”) with the Asset Management Association of China (AMAC), joining the ranks of 24 other WFOE PFMs.
The WFOE PFM registration is a key milestone and a true testament of Income Partners’ dedication in the Chinese fixed income markets. Prior to obtaining the WFOE PFM, Income Partners was amongst the first batch of non-mainland background asset managers to receive the RMB Qualified Foreign Institutional Investor (“RQFII”) quota in 2013 followed by the launch of our RQFII RMB Bond Fund. Prior to that, Income Partners was also amongst the first to launch offshore RMB bond products in 2010 and 2011, respectively.
Emil Nguy, Co-founder, CIO & CEO of Income Partners said:“We started with a vision in 1993 that China will become the biggest bond market after the US. Today, we are proud to be among the first of our kind to be able to participate in the continued opening-up of China’s fixed income markets through the WFOE PFM registration. We have stayed true to our founding vision by focusing on Asia fixed income only, and maintaining the single business of investment management, with the aim to serve our clients without conflict, and with the highest standards expected by international and institutional investors. The WFOE PFM registration allows Income Partners to provide services directly to onshore qualified investors. While we continue to leverage our expertise to help foreign investors allocate in this space, Income Partners can now serve onshore qualified investors who are looking for a dedicated fixed income specialist with high international standards.”