Kuala Lumpur , 22 November 2007
SC approves Credit Agricole as foreign fund manager under special scheme
The Securities Commission (SC) has approved the establishment of Credit Agricole Asset Management (Credit Agricole) as a foreign fund management company under the special scheme.
The special scheme is part of efforts under the Capital Market Masterplan to broaden the participation and accelerate growth of the investment management industry by approving up to five new foreign fund management companies to provide a greater range of services and product choice for investors.
Thus far, three foreign fund management companies have been approved by the SC under the special scheme, namely Aberdeen Asset Management, BNP Paribas Asset Management and Nomura Asset Management.
Credit Agricole is a sizeable global player with total assets under management for its group of companies amounting to USD725 billion (as at end March 2007). It has a long standing international presence with over 50 years of experience in portfolio management for a wide range of clients, including in the Asian region for the past 25 years.