Invesco seeks to manage China’s $400 billion-plus state-controlled pension funds, according to the Wall Street Journal. The company is capitalizing on its almost two-decade stay in China, managing ordinary citizen’s money to win the contract with the government.
Invesco expects to be ready and in a good position to win the coveted job, which could be awarded in two years.
Invesco’s ambition to try its luck with state-controlled securities differs from its US rivals which seek private fund-management licenses and partnerships in China.
It’s a wait-and-see scenario as China has in the past restricted international firms on operating financial businesses in the country.
Invesco stands a chance to win the state contract as China has always considered long-serving entities for new opportunities.
Invesco is currently gaining. IVZ: NYSE is up 4.65%.
