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Tencent Enters Third-party Fund Sales Market, 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, 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


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