Invesco to Hire Dozens in China as Assets Sail Past $100 Billion

(Bloomberg) — Invesco Ltd. is boosting its headcount in China after hitting an asset management target two years earlier than expected, as it seeks to secure further growth in the nation’s expanding mutual fund market.

Assets under management for Chinese clients jumped more than 40% last year to $112 billion as of Dec. 31, exceeding the $100 billion mark the Atlanta-based company expected to reach by the end of 2023, according to Andrew Lo, head of Asia Pacific. The firm plans to hire “a few dozen staff across functions including investment teams” this year for its joint venture mutual fund business, which contributed the most assets, he said.