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Exclusive: Abrdn to launch China asset management venture with Citic unit, sources say

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Abrdn is in advanced talks with Citic Bank to launch an asset management joint venture in China, two people with knowledge of the matter said, as the British firm looks to bolster its presence in the world's second-largest economy.
Abrdn, a British asset manager, is set to launch a new asset management venture in China in partnership with China CITIC Bank International (CNCBI), according to sources cited by Reuters on February 21, 2025. This venture aims to capitalize on the growing wealth management market in China, leveraging Abrdn's global investment expertise and CNCBI's local market knowledge and distribution network. The partnership will focus on providing a range of investment products tailored to Chinese investors, including mutual funds and potentially other financial services. This move is part of Abrdn's broader strategy to expand its presence in Asia, amidst increasing competition from both local and international financial firms in the region.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/abrdn-launch-china-asset-management-venture-with-citic-unit-sources-say-2025-02-21/ ]