Allianz applies to set up new fund management unit in China

Allianz applies to set up new fund management unit in China

FILE PHOTO: Allianz Global Investors logo is pictured at the company's headquarters in Frankfurt, Germany August 16, 2021. REUTERS/Tilman Blasshofer

Allianz Global Investors (AllianzGI) has become the latest foreign asset manager to seek Beijing’s approval to expand in the world’s second-largest economy.

AllianzGI filed its application Friday last week to enter China’s $3.95 trillion fund management market, according to a filing with the China Securities Regulatory Commission which became available to the public on Monday evening.

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