Schroders gets nod to set up a wholly-owned mutual fund unit in China

Schroders gets nod to set up a wholly-owned mutual fund unit in China

FILE PHOTO: The logo of investment management company Schroders is seen at a branch in Zurich, Swtzerland November 5, 2018. REUTERS/Arnd Wiegmann

Schroders has obtained Chinese regulatory approval to set up a wholly-owned mutual fund unit in China, as Beijing accelerates opening up its giant financial sector to foreigners.