On May 20, Schroders Fund Management announced it has submitted an application to the China Securities Regulatory Commission (CSRC) to change the registration of several of its publicly offered securities investment funds. The proposal is to transfer the fund management responsibility for the Schroders Hengxiang Bond Fund, Schroders China Momentum Stock Fund, and Schroders Tianyuan Pure Bond Fund from Schroders Fund Management to Neuberger Berman Fund Management.
Concurrently, Neuberger Berman Fund Management issued an indicative announcement stating that, subject to the completion of the fund registration change and approval of the management change proposal by the respective fund's unitholders' meetings, it will simultaneously take on some of the core investment personnel associated with the transferred funds.
Both parties have expressed their commitment to ensuring a smooth transition and prioritizing the interests of fund unitholders.
**Adjustment Based on Global Strategic Transformation** Public information shows that Schroders Investment Group was founded in 1804 and has over 200 years of history. As a leading global asset management firm, the Schroders Group has been operating in mainland China for over 30 years, serving as a significant participant and contributor to the two-way opening of China's financial markets.
Schroders Fund Management was officially approved in January 2023, becoming the fourth approved wholly foreign-owned public fund management company, and obtained its public fund license in June of the same year. Wind data indicates that as of the end of the first quarter of this year, Schroders Fund Management's total assets under management amounted to 1.695 billion yuan.
Regarding this adjustment, the Schroders Group stated it is part of the group's global strategic realignment. Within the framework of maintaining its overall China strategy unchanged—continuing to offer mainland clients a wide range of investment options including public funds, private market investment vehicles, and bank wealth management products—the group is making corresponding business adjustments to Schroders Fund Management.
Currently, the Schroders Group, through several licensed onshore entities, provides a broad spectrum of investment solutions encompassing asset management products such as public funds, private market investment tools, and bank wealth management products. It also actively promotes and participates in related business and cooperation under the two-way cross-border investment mechanisms.
Since 2025, the Schroders Group has initiated a three-year global transformation plan aimed at maintaining business focus and enhancing operational efficiency. As part of this transformation, for instance, it has streamlined and reshaped business layouts and client product offerings in specific markets across Asia, Europe, and South America. Measures include transferring some operations to third parties, discontinuing specific investment strategies, or refocusing business efforts on particular client segments to improve operational efficiency and respond more effectively to client needs.
The Schroders Group emphasized its continued long-term commitment to and firm confidence in the Chinese market. Recognizing the vast opportunities in China, the group remains steadfastly dedicated to the long-term development and success of the market. It will continue to deepen its presence in China, providing Chinese investors with diversified investment solutions and product services across the broad asset management market, including public and private offerings. The Schroders Group will continue to invest in client relationship building and maintain stable and efficient collaboration with international and domestic partners to achieve the outcomes clients expect in the near and long term.
**Neuberger Berman "Takes Over," Expressing Firm Confidence in China's Long-Term Prospects** Simultaneous with Schroders Fund Management's adjustment announcement, Neuberger Berman Fund Management issued an indicative announcement regarding its intention to take over the management of several publicly offered securities investment funds from Schroders. Neuberger Berman Fund Management also stated that, should the proposal for the change in fund manager be approved by the respective fund unitholders' meetings, the company intends to concurrently take on some of the core investment personnel associated with the transferred funds.
Neuberger Berman Fund Management stated that undertaking this fund management business reflects the Neuberger Berman Group's firm optimism about the long-term development prospects of China's capital markets and its strategic resolve to continue deepening its presence in the market.
According to its official website, Neuberger Berman Fund Management was established in July 2021 and was among the first batch of public fund management companies approved for establishment. In 2022, it became the second newly established wholly foreign-owned public fund management company to officially commence business. As of the end of the first quarter, Neuberger Berman managed a total of 18 public fund products with total assets under management of 14.47 billion yuan.
Since its founding in 1939, the Neuberger Berman Group has adhered to the principle of pursuing long-term, stable investment returns. After entering the Chinese market in 2008, the group seized opportunities presented by financial opening-up, steadily building a comprehensive asset management service system covering public funds, private asset management, and Qualified Domestic Limited Partner (QDLP) programs, continuously deepening its presence in China. As the group's wholly-owned public fund institution in China, Neuberger Berman Fund Management leverages global experience and local advantages, upholding the principles of prioritizing investor interests, pursuing stable and sustainable performance, and compliant operations, aiming to build a long-term trustworthy asset management institution with international standards.
Since obtaining its business license in 2022, Neuberger Berman Fund Management has continuously strengthened its investment research capabilities and enriched its product portfolio. It has successively launched various public fund products including equity, hybrid, and bond funds. Its 19 public funds are operating smoothly and orderly. The equity team continues to deepen its expertise across various product lines, with performance garnering market attention. The quantitative team has implemented investment strategies with Neuberger Berman characteristics across several products. The fixed income and multi-asset team launched the first actively managed green bond fund by a wholly foreign-owned public fund manager in September 2023, deeply integrating globally leading sustainable investment concepts with the Chinese market, which has received widespread industry attention.
Meanwhile, the QDLP business approved for the Neuberger Berman Group in 2018 has steadily ranked within the top tier of the domestic industry. It has successfully issued 12 related products to date, with cumulative approved quotas exceeding one billion US dollars, establishing a professional channel for domestic investors to allocate to global quality assets.
Neuberger Berman Fund Management expressed that the development of foreign-owned public fund managers in the Chinese market should be a down-to-earth process of "starting anew." The company consistently adheres to the philosophy of respecting the market and aligning with local development, avoiding blind replication of overseas experiences. It bases its approach on market development patterns and the actual wealth management needs of investors, continuously refining products and services, aiming to repay the trust of unitholders with long-term, stable performance. Looking ahead, Neuberger Berman Fund Management has the confidence and capability to succeed in China's asset management business. It hopes to fulfill its fiduciary duties with professional competence, deepen its presence in the Chinese market with its long-held principles, assist investors in achieving long-term wealth appreciation, and contribute to the high-quality development of the capital market.
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