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T. Rowe Price opens Shanghai office

 — 1 minute read

The global investment firm has opened a research office in Shanghai, as it looks to boost its coverage of China. 

T. Rowe Price has aimed to expand its research coverage of China’s growing investment universe, indicating it will employ analysts on the ground who can look at local companies. 

The new centre will report back to the company’s research platform, which informs its investment decisions across its local, regional and global strategies. 

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Dai Wang, a Chinese national who joined the firm in 2014, will lead the new Shanghai office, after working as a research analyst in its equity division, covering Asian stocks in Hong Kong and in Baltimore.

Justin Thomson, head of international equity and co-head of global equity commented the opening “represents an important milestone for T. Rowe Price”, as well as its long-term plan to build out its business in the Asia Pacific. 

“China is home to some of the most exciting investment opportunities in the world,” Mr Thomson said. 

“With more than 5,000 names in its investment universe, it has emerged as the second largest equity market globally and is one of the broadest and deepest growth markets outside of the US.

“The new office will amplify our ability to conduct investment research locally and seize opportunities in the Chinese market for our clients.”

Elsie Chan, head of Asia ex-Japan distribution added T. Rowe Price has been managing money on behalf of Chinese institutional clients since 2006. 

“The establishment of the investment consulting WFOE [wholly foreign-owned enterprise] shows we are continuing to develop our investment research capabilities on behalf of our clients,” Ms Chan said. 

The firm currently has two China-focused strategies managed out of Hong Kong. T. Rowe Price had invested US$4.7 billion into securities listed in mainland China as at 31 December 2020, as well as US$36.9 billion invested in Chinese securities listed on offshore exchanges. 

The Shanghai office joins its five other locations across the APAC in Hong Kong, Tokyo, Singapore, Sydney and Melbourne.

 

T. Rowe Price opens Shanghai office
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Sarah Simpkins

Sarah Simpkins

Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth. 

Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio. 

You can contact her on [email protected].

 

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