Singapore’s iFAST to Launch China Private Fund Manager Business

iFAST Corporation expects to start selling private funds to qualified onshore individual and institutional investors in China in early 2021.

Singapore wealth management and brokerage platform iFAST Corporation has registered its China unit as a private fund manager (PFM) with AMAC (Asset Management Association of China), the company said in a statement on Friday (25 September).

The new unit, iFAST Investment Management China, was incorporated in May 2019 as a wholly foreign-owned enterprise (WFOE) in the Shanghai Pilot Free Trade Zone, with a registered capital of CNY 10 million.

With the PFM registration, iFAST can issue private equity securities investment funds, private equity securities fund of funds, and offer private funds to qualified onshore individual and institutional investors in China.

“The PFM capability will allow our business in China to have a broader range of services as an investment platform,” iFAST said in its statement.

The Group expects the China private fund manager business to be launched by early 2021.