By Adam Clark

Prudential PLC's (PRU.LN) Asian asset-management arm, Eastspring Investments, has received a license to set up as a private fund manager in China.

Eastspring said Tuesday that the license allows it to offer onshore investment products to high-net-worth individuals and institutional investors in China.

"Our ambitions in China are to serve local Chinese investors, offer Chinese investors the opportunity to invest in Eastspring's global offshore funds, and also provide global investors with the opportunity to invest directly in China via our onshore investment team," Eastspring Chief Executive Guy Strapp said.

Eastspring manages over $182 billion in assets. The company already serves Chinese retail investors via its joint venture with CITIC Group.

Write to Adam Clark at adam.clark@dowjones.com

(END) Dow Jones Newswires

October 23, 2018 06:16 ET (10:16 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
Prudential (LSE:PRU)
Historical Stock Chart
From Mar 2025 to Apr 2025 Click Here for more Prudential Charts.
Prudential (LSE:PRU)
Historical Stock Chart
From Apr 2024 to Apr 2025 Click Here for more Prudential Charts.