Mellon, China's Southern Fund Management plan tieup - report |
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Wed, 16 May 2007 06:56
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BEIJING (XFN-ASIA) - Mellon Financial is expected to enter a tieup with Southern Fund Management, one of China's largest fund houses, the Financial Times reported, citing sources.The deal, which is expected to be signed later this week, will boost Mellon's struggling efforts to gain access to China's domestic fund market, the newspaper reported.Under the agreement, Mellon will provide investment expertise on a new fund product that will be co-managed by Southern.It said the deal effectively allows the US group to access Chinese savings without forming a domestic operation.andrew.pasek@xinhuafinance.com
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