Bridgewater Associates sets up a branch in Shanghai FTZ

By Vera Ye | May 17, 2016, Tuesday |

Online Edition

Bridgewater Associates, one of the world’s biggest hedge fund firms, has won approval to set up a wholly-owned subsidiary in Shanghai’s pilot free trade zone.

Ray Dalio, the founder of the US investment management firm, registered Bridgewater (China) Investment Management Ltd on March 7, according to a filing at the Shanghai office of the State Administration for Industry and Commerce. The move was carrying on quietly until Z-Ben Advisors, a Shanghai research firm that tracks the investment-fund industry, disclosed the registration in a note released yesterday.

With a registered capital of 50 million yuan (US$7.7 million), the subsidiary is located in an office tower in the Lujiazui financial district, part of the Shanghai free trade zone. Its business scope includes investment management and investment advisory, according to the filing.

The new entity will be platform for Bridgewater’s China operation and provide services to institutional clients, said Z-Ben Advisors.

Z-Ben said it’s more likely that Bridgewater will move quickly to take advantage of China’s fixed income market reforms, which allowing foreign institutions to trade yuan-denominated debt securities more easily.

"While there are concerns over credit quality in certain segments, China still does offer comparatively high-quality bonds and with decent yields," it said.

The market research firm said the Bridgewater approval is likely to encourage other global managers to tap Chinese market.

Founded in 1975, Bridgewater manages approximately US$150 billion in global investments for institutional clients.

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Bridgewater Associates sets up a branch in Shanghai FTZ

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