Zhen Cang Hu

Minsheng Royal Fund Management Co., Ltd. (Minsheng RFM) is an independent joint venture fund management firm which was founded in 2008 by China Minsheng Banking Co., Ltd., Royal Bank of Canada Financial Group, and Three Gorges Finance Co., Ltd. Headquartered in Shenzhen, Minsheng RFM is the first joint venture firm in China which has both domestic and foreign banks as major shareholders. They manage the Minsheng fund range for a range of clients including institutions, insurance companies, securities firms and asset management companies.

Manulife TEDA Fund Management Co. Ltd. (Manulife TEDA FM) is the fund management joint venture between Northern International Trust & Investment Co. Ltd. and Manulife Asset Management (Hong Kong) Ltd. Formerly known as ABN AMRO TEDA Fund Management Co. Ltd., the firm was established in 2002 as Tianjin TEDA Investment Holding Co., Ltd. Manulife TEDA FM is located in Beijing and manages a range of open-end funds, including equity, hybrid, bond and currency funds, for individual and institutional customers.

ABN AMRO TEDA Fund Management Co. Ltd. (ABN AMRO TFM) is a subsidiary of Northern International Trust & Investment Co. Ltd. in China. Established in 2003, ABN AMRO TEDA (formerly known as ABN AMRO Xiangcai) was one of the first sino-foreign joint ventures to enter the Chinese fund management market. The Tianjin Municipal Government's investment arm, Tianjin TEDA Holdings, through its subsidiary Northern International Trust & Investment Co. Ltd. has a 51% stake in the joint venture and ABN AMRO Asset Management has 49%, the maximum threshold foreign investors are allowed to take in a fund management joint venture in China. Based in Beijing, the firm manages equity funds, fixed-income products, investment, trust services and other businesses approved under the laws of China for corporate, institutional and individual investors.