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Caixin Global
Caixin Global
Business
Zhang Ziyu

Canada’s Manulife Approved to Take Full Control of Its China Mutual Fund Venture

Manulife China Insurance
The Manulife Financial Centre in Hong Kong. Photo: Courtesy of Manulife

Canadian insurance giant Manulife Financial Corp. has won approval to become the fourth foreign company to operate a wholly owned mutual fund business in China.

The Toronto-based financial firm, which controls 49% of Beijing-based mutual fund joint venture Manulife Teda Fund Management Co. Ltd., has been allowed to acquire the remaining 51% stake from its Chinese partner, according to a notice released by the China Securities Regulation Commission on Friday.

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