Foreign fund managers in China are lowering their growth expectations as they struggle to break into the world’s potentially most lucrative market for asset managers.
Weaker foreign players are expected to leave China in the next few years as foreign managers’ overall market share stagnates, according to fund managers interviewed by PwC, the consultancy, for a recent report on fund management in China.
“Nobody said it was going to be easy, and it’s not been easy,” says Robert Grome, a partner with PwC in Hong Kong.
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