Tencent Enters Third-party Fund Sales Market

Chnfund.com, 6/04/18

Nearly 6 months after obtaining a fund sales business license, Chinese internet conglomerate Tencent's (0700.HK) third-party fund sales subsidiary Teng'an Fund has officially entered the third-party fund sales market. According to online media outlet Chnfund.com, Teng'an Fund has already signed agency agreements with several fund companies including Guangzhou-based E Fund Management, Harvest Capital Management, Fullgoal Fund Management, and China Merchants Group, and is actively recruiting to develop its analysis team.

Teng'an Fund, a wholly-owned subsidiary of Tencent, was approved by the Shenzhen branch of the China Securities Regulatory Commission on January 2. The fund will use Tencent's official mobile finance platform Licaitong as a base and will engage in independent fund sales operations.

Keywords: financial services Internet Tencent 0700.HK Licaitong

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily