Clifford Chance

Clifford Chance advises AMP Capital on China funds management joint venture with China Life

Hong Kong: Leading international law firm Clifford Chance has advised AMP Capital on its proposed establishment of a joint venture funds management company with China Life Asset Management Company, a subsidiary of China Life Insurance China access to China  (Group) Company, China's largest insurance group and the world's largest listed insurance company by market capitalisation.

The joint venture will operate as China Life AMP Asset Management, offering retail and institutional investors in China mutual funds in domestic equities and fixed income products.

This will be China Life's first joint venture in China with a foreign partner in funds management, and also the first Chinese insurance company to take advantage of recently enacted China Insurance Regulatory Commission's (CIRC) revised regulations allowing insurance companies to establish funds management companies.

AMP Capital will hold a 15% stake in the joint venture with China Life holding the remaining 85% stake.

Beijing Corporate partner, Terence Foo, who led on this transaction said, "We are delighted to have advised on this landmark transaction, marking the first ever sino-foreign joint venture funds management company in China where the Chinese partner is an insurance company.."

Terence was supported by senior associate Jiang Niao and associate Grace Wu, working together with the Sydney team led by Corporate partner Danny Simmons and senior associate Amelia Horvath.