The $205 billion global money manager will own a 30% stake in the venture, which counts Chinese lending giant
According to Reuters, Schroders joins a recent spate of international investors, including Merrill Lynch and AIG, which are hoping the catch China's $40 million fund industry in its infancy. To further growth, Beijing recently eased investment rules and on Thursday its securities regulator said fund management firms would now be allowed to invest their own assets in mutual funds. China also announced approval last week of its first bank-run fund manager, a venture that includes Credit Suisse First Boston.