Global asset manager Wellington Management has secured qualified domestic limited partner (QDLP) status for its China-based subsidiary.
Wellington Global Private Fund Management (Shanghai) has been registered as a QDLP private fund manager with the Asset Management Association of China.
Scott Geary, senior managing director and head of client group for Asia Pacific at Wellington hailed the news as a “critical milestone” in the firm’s expansion plans in China.
“China is a key growth market worldwide, with long-term potential for the firm – and is an integral part of our global and Asia strategy,” said Geary.
The award of QDLP status comes just weeks after Wellington launched a number of funds in Hong Kong targetting retail investors.
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