Amy Wang, formerly at Amundi Pioneer Asset Management, has been brought on to strengthen the firm’s relationships with Chinese high-net-worth individuals and institutional investors.
Aberdeen Standard Investments, the £11 billion ($14 billion; €12 billion) entity resulting from the merger of Standard Life Investments and Aberdeen Asset Management, has appointed Amy Wang to head its onshore China business.
Wang will join the firm’s Shanghai office on 1 September as its senior representative in China, and also act as general manager of its Wholly Foreign Owned Enterprise (WFOE) Aberdeen Asset Management. Fund managers with WFOE licence are allowed to raise funds onshore and invest capital without taking up a Chinese partner.
Aberdeen was the first foreign firm to establish a WFOE which permits it to launch China-focused investment products and manage assets directly on behalf of Chinese high-net-worth individuals and institutional investors.
“Amy’s deep knowledge and experience of the regulatory as well as market environment will be a benefit as we look to strengthen both our existing relationships with clients in China and build new ones – particularly among sovereign funds, financial institutions and insurance firms,” said Alexis Ng, head of distribution for Asia Pacific at Aberdeen Standard Investments.
Funds managed by Standard Life and Aberdeen are primarily backed by US and UK pension funds such as San Bernardino County Employees’ Retirement Association and Surrey County Pension Fund, according to PEI data.
Wang joins from Amundi Pioneer Asset Management where she was head of institutional business for Greater China. Prior to joining Amundi, Wang was chief representative in Beijing for Templeton International for 12 years. Earlier in her career, she worked as an associate director at Fitch Ratings, and as an economist at the International Monetary Fund in Washington DC.
Like its infrastructure unit, Aberdeen’s agri team has shown an appetite for climbing higher up the risk curve to capture better returns.
Jim Gasperoni, head of real assets at Aberdeen, a division that encompasses its agriculture investments, told Agri Investor in December that growing institutional appetite for farmland meant the asset class had evolved into a “value-add” opportunity.
In June, he expanded on his views by calling institutions to develop assets such as permanent cropland, including orchards and vineyards, which he thought capable of “doubling” investor’s income potential amid high prices of annual cropland.
Additional reporting by Matthieu Favas