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AXA completes registration for a private fund unit in Shanghai

AXA Investment Managers has registered a wholly-owned private fund management company in Shanghai, according to a filing with the Asset Management Association of China (AMAC). The registration enables the fund unit of French insurer AXA to launch local fund products as Chinese regulators adjust filing and registration processes to help businesses overcome virus curbs and resume work. Among the measures, electronic signatures can replace company seals in fund registrations, while a new private fund is now allowed to complete fundraising 18 months after registration, compared with 12 months previously. The government of Shanghai unveiled a series of measures to reinvigorate the economy, including policies to encourage more foreign asset managers to launch cross-border funds, and set up regional investment centres in the city. AXA already owns a life insurance venture and a mutual fund venture in China.

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