New York (HedgeCo.Net) – Hedge fund giant Man Group plc was chosen to head up the Shanghai Qualified Domestic Limited Partner (QDLP) program, which allows qualified high net worth individuals and institutional investors in China to invest in hedge funds overseas.
Man Group was one of six hedge funds initially selected by the Shanghai Financial Services Office to participate in the scheme. Man Group’s QDLP Man Multi Strategy fund has received investment from institutional investors, including ICBC and Citic Trust.
“We are delighted to be part of the Shanghai QDLP program, which demonstrates China’s continuing drive to open up cross-border investment opportunities. “Pierre Lagrange, Chairman of Man Group Asia said, “The response to our QDLP fund to date demonstrates a growing appetite from the Chinese institutional investment community for this type of opportunity.”
“Man Group sees significant future opportunity in China and we are committed to growing in the region. We have built strong, long-term relationships with the institutional investment community and are working with local partners to develop new products.”
Man Group’s share price currently stands at 182.30 Up 2.70. The company manages approximately $72.3 billion and employs over 1,200 people in 14 locations worldwide.
Alex Akesson
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