Schroders Fund Management has announced a business adjustment, with Neuberger Berman Fund Management taking over its public fund products and some core investment and research personnel.
On May 20, the wholly foreign-owned public fund managers Schroders Fund Management and Neuberger Berman Fund Management jointly announced that Schroders will transfer the management functions of three public funds to Neuberger Berman. Neuberger Berman plans to concurrently take on some core investment personnel associated with the funds undergoing the change.
Industry insiders indicate that, based on Schroders Group's three-year global transformation plan, the group's overall China strategy remains unchanged. Schroders will continue to deepen its presence in the Chinese market, with the adjustment being specific to the business of Schroders Fund Management. The move underscores foreign institutions' firm confidence in the long-term development prospects of China's capital markets.
Schroders Fund Management and Neuberger Berman Fund Management have signed an agreement for the change of manager for three funds, with a concurrent transfer of core investment and research staff.
Recently, Schroders Fund Management announced that it has submitted applications to the China Securities Regulatory Commission (CSRC) to change the registration of some of its publicly offered securities investment funds. The proposals involve changing the fund manager of the Schroder Hengxiang Bond Fund, the Schroder China Momentum Equity Fund, and the Schroder Tianyuan Pure Bond Fund to Neuberger Berman Fund Management.
Concurrently, Neuberger Berman Fund Management issued a notice stating that if the fund registration changes are completed and the proposals for the change of fund manager are approved by the respective fund shareholders' meetings, it will simultaneously take on some core investment personnel associated with the funds undergoing the change. Both parties stated that they are committed to ensuring a smooth transition and prioritizing the interests of fund shareholders.
Schroders Group stated that the adjustment to Schroders Fund Management's business is based on its own strategic transformation planning. Starting from 2025, Schroders Group initiated a three-year global transformation plan aimed at maintaining business focus and improving operational efficiency. As part of this transformation, it is streamlining and reshaping business layouts and client product offerings in specific markets across Asia, Europe, and South America. This involves transferring some operations to third parties and discontinuing certain investment strategies, or refocusing business efforts on specific client segments to enhance operational efficiency and respond more effectively to client needs.
As part of Schroders Group's global strategic adjustment, its China strategy remains unchanged. The group will continue to provide public funds, private market investment vehicles, and bank wealth management products to clients in mainland China, while making business adjustments to Schroders Fund Management. Schroders Group stated that it maintains long-term commitment and firm confidence in the Chinese market. The Chinese market holds significant opportunities, and Schroders Group remains firmly dedicated to the long-term development and success of the market. It will continue to deepen its presence in China, offering diversified investment solutions and product services across a broad asset management spectrum, including public and private offerings, for Chinese investors. Schroders Group will continue to invest in client relationship building and maintain stable and efficient collaboration with international and domestic partners to achieve outcomes desired by clients both in the short and long term.
Neuberger Berman Group is firmly optimistic about the long-term development prospects of China's capital markets. Neuberger Berman Fund Management's assumption of the relevant fund management business fully demonstrates Neuberger Berman Group's firm optimism regarding the long-term development prospects of China's capital markets and its strategic resolve for continued deep engagement.
Since entering the Chinese market in 2008, Neuberger Berman Group has actively seized opportunities presented by financial opening-up, steadily establishing a comprehensive asset management service system covering public fund management, private asset management, and Qualified Domestic Limited Partner (QDLP) areas, continuously deepening its presence in China.
As a wholly-owned public fund institution, Neuberger Berman Fund Management leverages global experience and local advantages, adhering to the principles of prioritizing investor interests, pursuing steady and sustainable performance, and compliant operations. It aims to build a long-term trustworthy asset management institution to international standards.
Moving forward, the company will rely on a "local team + global empowerment" strategy to steadily advance the smooth transition and standardized operation of the funds. It commits to fulfilling its fiduciary duty with professional capability, deepening its presence in the Chinese market through long-term commitment, helping investors achieve long-term wealth appreciation, and contributing to the high-quality development of the capital markets.
Since receiving approval to operate in 2022, Neuberger Berman Fund Management has continuously strengthened its investment research capabilities and enriched its product matrix. It deeply integrates mature global investment experience with practical advantages in the local market, steadfastly upholds the principle of putting investor interests first, strictly adheres to the bottom line of compliant operations, and focuses on building an international asset management brand known for stable performance, steady progress, and long-term trustworthiness.
Neuberger Berman Fund Management stated 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 a philosophy of respecting the market and aligning with local development. It avoids blindly replicating overseas experiences, instead basing its approach on market development patterns and the actual wealth management needs of investors. It continuously refines its products and services, aiming to repay the trust of holders with long-term, stable performance.
Looking ahead, Neuberger Berman Fund Management is confident and capable of successfully managing asset management business in China. It aspires to fulfill its fiduciary duty with professional capability, deepen its presence in the Chinese market through a philosophy of long-term commitment, assist investors in achieving long-term wealth appreciation, and contribute to the high-quality development of the capital markets.
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