ZURICH (Reuters) – Julius Baer is making a low double-digit million dollar equity investment in China-based domestic asset manager GROW as part of a strategic alliance, the Swiss wealth manager said on Wednesday. .
“Through this partnership, Julius Baer has taken its first step into China, while GROW clients will have access to Julius Baer’s global investment expertise,” the Swiss firm said. The bank said in a statement.
GROW was established in Shanghai in June 2021 with the goal of becoming “a world-class, next-generation asset management company focused on China”.
Partners will establish a distribution network so that GROW’s domestic clients have access to select Julius Baer products through qualified domestic limited partnership products, while Julius Baer’s global clients can Use local investment assets through Qualified Foreign Institutional Investor products.
According to Credit Suisse’s Global Wealth Report, the number of Chinese millionaires is expected to double 2026. The total wealth of Chinese households reached 85.1 trillion US dollars 85, a year-on-year increase of .1% .