SHANGHAI: JPMorgan would need to pay US$1 billion for full ownership of its Chinese mutual fund venture, a statement on the Shanghai United Asset and Equity Exchange showed on Tuesday, a price tag that analysts said was expensive.
Fund consultancy Z-Ben Advisors said that pegged the deal at 50 times earnings, and represented a 52 per cent premium over fair value. China is opening up its capital markets at a faster pace given trade tensions with the United States. Global asset managers including BlackRock and Neuberger Berman applied to set up fully-owned China mutual fund units after regulators in April scrapped foreign ownership restrictions in the fund management industry.
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