American investment manager Invesco is reportedly hiring dozens of people in China to further boost its presence in the expanding Chinese mutual fund market. The move also comes as Invesco hit its asset management target two years earlier than expected last year with USD112bn. The company set a goal of USD100bn by the end of 2023, according to a Bloomberg report. The Atlanta-based firm plans to hire a dozen staff across functions including investment teams this year for its joint venture mutual fund business, which, according to Invesco Asia Pacific head Andrew Lo, contributed the most assets. Lo told Bloomberg that the firm sees opportunities in pensions, in cross-border investments, in ESG, and in the continued opening up and liberalisation of financial markets in China.
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