Exclusive: Manulife’s China Mutual Fund Firm to Name New President

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Manulife Financial is set to appoint a new president of its China mutual fund subsidiary. Photo: Manulife

Manulife Financial Corp. is set to appoint a new president of its China mutual fund subsidiary, sources with knowledge of the matter told Caixin, as the Canadian finance giant seeks talent to help it navigate China’s $4.3 trillion mutual fund market.

The new hire will replace Gao Guixin, who was appointed to the role in late 2022. That year, the parent company got regulatory approval to take full control of its China mutual fund venture, which was later rebranded as Manulife Fund Management Co. Ltd.

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Manulife Financial Corp. plans to appoint a new president for its China mutual fund subsidiary, replacing Gao Guixin, appointed in late 2022.
Kevin Ding, who played a crucial role in Manulife's acquisition of its China joint venture, is a potential candidate for the position.
Since China lifted foreign ownership limits on mutual fund businesses in April 2020, nine foreign firms, including BlackRock and Fidelity, have been allowed to operate in China.

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Who’s Who

Manulife Fund Management Co. Ltd.: Manulife Fund Management Co. Ltd. is the rebranded name of Manulife Financial Corp.'s China mutual fund subsidiary. The parent company obtained regulatory approval to take full control of this venture in late 2022. The company is part of Manulife's efforts to navigate China's $4.3 trillion mutual fund market and expand its market share. Kevin Ding, currently managing director for China at Manulife Investment Management, is a potential candidate for the new president.

BlackRock Inc.: BlackRock Inc. is one of the nine foreign firms cleared to operate their own mutual fund businesses in China. The company has taken advantage of the regulatory changes allowing foreign ownership of mutual fund businesses in the Chinese market.

Fidelity International: Fidelity International is one of nine foreign firms cleared to operate its own mutual fund business in China. This follows Beijing's 2020 decision to scrap limits on foreign ownership of mutual fund companies, allowing firms like Fidelity to enter the market.

Neuberger Berman Group LLC: Neuberger Berman Group LLC is one of nine foreign firms cleared to operate mutual fund businesses in China. This approval comes in the context of China's broader financial market opening, which began with the scrapping of limits on foreign ownership of mutual fund businesses in April 2020.

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