The fund has been launched by the firm's wholly foreign-owned private fund management company.

Fidelity International’s private fund management company, a wholly foreign-owned enterprise based in Shanghai, launched its first private fund in China. This is part of the firm’s long-term growth strategy.

The fund is called Fidelity China Bond No. 1 Private Fund and will be managed by Freddie Wong, who relocated from Hong Kong to Shanghai in March 2017.

It will primarily invest in Chinese onshore bond markets with an objective to achieve income and capital appreciation. The fund will be available to eligible Chinese institutional and high-net worth clients.

Wong will be supported by a dedicated team of credit analysts and fixed income trading professionals in Shanghai and all of whom are recruited locally in China.  

“We are thrilled to be the first global asset manager to launch a private fund in China. As a privately-owned company, we are committed to the China market for the long term and growing our capabilities and franchise in this most important market,” said Mark Talbot, managing director, Asia Pacific.