China International Fund Management Co., Ltd.
Incorporated in May 2004, China International Fund Management Co., Ltd. Is the joint venture between J.P. Morgan Fleming Asset Management (UK) Limited ("JPMorgan Fleming") and Shanghai International Trust and Investment Co., Ltd. ("SITICO").
It has a registered capital of RMB150 million (or approximately US$18.2 million) with JPMorgan Fleming and SITICO currently holding 49% and 51% stakes respectively.
With the support of both shareholders and their vast experience in the fund industry, both locally and overseas, China International Fund Management Co., Ltd. will follow the management principles of professional integrity, a customer-focused approach, quality fund performance and long-term localization. The company's objective is to provide investors with advanced asset management philosophy and global investment services which will, in turn, help to grow China's burgeoning fund industry. It is the company's intension to strive to become the "global investment specialist for local investors and the China investment specialist for global investors."
JPMorgan Fleming Asset Management
JPMorgan Fleming is part of JPMorgan Chase Group, and is one of the world's leading asset management companies with some US$580 billion of assets under management*. Currently, the firm has a global network of over 450 investment professionals located in over 15 investment centres across the world to provide mutual fund and segregated account services to millions of investors. In Asia, JPMorgan Fleming operates under the brand of "JF Asset Management" and has remained at the forefront of the investment industry for more than 30 years.
JPMorgan Chase
JPMorgan Chase is one of the largest global financial services institutions. The firm is a leader in investment banking, financial services for consumers and businesses, financial transaction processing, investment management, private banking and private equity. In January 2004, JPMorgan Chase reached a merger agreement with Bank One, the sixth largest bank in America. Upon completion of the merger later this year, the total assets of the group will reach some US$1,100 billion. A component of the Dow Jones Industrial Average, JPMorgan Chase is headquartered in New York and serves more than 30 million consumers nationwide and many of the world's most prominent corporate, institutional and government clients.
SITICO
SITICO is a non-bank financial institution and a subsidiary of the Shanghai International Group. Incorporated on 24 July 1981, SITICO has a registered capital of RMB2.5 billion (approximately US$300 million), ranking one of the top trust and investment companies in terms of the capital base, business scale and operational capacity. SITICO is one of earliest financial institutions to have participated in the local fund management industry. In addition, it has substantial experience in developing and participating in joint ventures, having worked with a number of reputable multinationals over the years. It is this unique global vision that has contributed towards the solid basis on which China International Fund Management Co., Ltd. has been established.
Shanghai International Group
Shanghai International Group was established in April 2000 with a registered capital of RMB6.3 billion. It is authorized by Shanghai Municipal Government to manage state-owned assets and state-owned equity holdings. The group holds a large number of high-quality investment projects in the fields of banking, trust, securities, industries, real estates, trade, asset management and infrastructure.
* As at 27 April 2007.
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