Morgan Stanley Wins Control Over China Fund as Competition Heats Up

(Bloomberg) — Morgan Stanley gained full control of its fund management joint venture in China, joining rival JPMorgan Chase & Co. in buying out local partners to boost their presence in the nation’s 26 trillion yuan ($3.86 trillion) market.

The China Securities Regulatory Commission gave approval to the U.S. bank to boost its stake in the Shenzhen-based Morgan Stanley Huaxin Fund Management Co. to 100%, according to a statement on the regulator’s website.