T. Rowe Price may have achieved the biggest coup yet of U.S. fund companies looking to expand into China, BusinessWeek reports.

The biggest and oldest of the four mutual fund companies in China, China Asset Management, recently selected the firm to sub-advise its funds, a move that analysts applaud.

The firm’s assets this year are expected to grow 20% to $402 billion, up from $335 billion, and to increase by another whopping 39% next year to $557 billion.

Douglas Sipkin, an analyst with Wachovia Capital Markets, rates T. Rowe outperform and says its has a “strong global mandate.” Sipkin added that the partnership with China Asset gives T. Rowe “long-term opportunity in the region.”

D.J. Neiman, an analyst with William Blair, also rates the stock outperform. T. Rowe Price is “our top pick in the group as the preeminent asset manager with sterling reputation and above-average growth opportunities,” both domestically and abroad, Neiman said.

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