GUANGZHOU (Fund China) – British Morley Fund Management Co. yesterday announced that Shanghai office officially opened. The company also said that on October 31 and the Chinese Cereals and Oils Group established fund companies signed the cooperation memorandum of understanding to set up a joint venture fund management company in advance matters is in full swing.

Morley is a London-based asset management business wholly owned by Aviva PLC, one of the world’s largest financial services groups. Morley is one of the UK’s largest active fund managers. In Europe, it is one of the biggest property investment managers with £30billion / €44billion of property assets under management. Morley group companies have assets of £168.32 billion / €250.34 billion under management.

Morley Fund in March this year China announced the establishment of the Department of Strategic Development and appointed former ABN Amro TEDA Fund Lin Weiyin, president and CEO of strategic development for the Chinese district director.

It is understood that once Morley Fund intends to purchase shares in the capital fund companies to enter China. But as the market for the better, and funding within the equity fund companies also have become increasingly expensive prices. Earlier, Yinhua Fund’s stake in the auction out of the 56.2 yuan a price. Morley Fund final decision Aviva PLC old partnership with the Chinese Cereals and Oils Group, a joint venture set up their own fund companies.

Morley Fund said its QFII applications for the amount of work has entered the stage of completion. The company also look forward to working with partners to develop QDII business. As a fund of insurance companies, Morley Fund also hope that their full of characteristics of pension fund management business to China, which still remains to be developed in the market had a share.

Copyright Fund China 2009.

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