A number of Sino-foreign mutual fund joint ventures have been firmed up this year, but speculation continues to grow about the potentially biggest foreign player, HSBC Asset Management, which made clear its intention to enter the market last year. Its size in Hong Kong and the bank side's presence on the mainland it is reportedly negotiating a 20% stake in Bank of Communications, the fifth-largest lender should make it a formidable competitor, provided it gets the right JV structure and relationship in place.
New rumours have surfaced that the firm is in discussions with Shanxi Provincial Trust and Investment to form a JV. Several competitors in Shanghai have expressed surprise...
