The latest technology news in the wealth management sector from around the world.

UK-based fintech business Finastra, has formed a partnership with Hundsun Technologies to co-develop and deliver a Chinese version of Finastra’s investment management software, Fusion Invest. 

The new version of Fusion Invest will be tailored for China’s regulatory and local requirements and be available to customers in mainland China, Hong Kong, Taiwan and Macau.

Hundsun, a Chinese leading fintech company involved in all fields of financial markets, which owns more than 80 per cent of the local investment management software market share, will license the new version of Fusion Invest directly to more than 100 buy-side institutions, with support from Finastra. 

“China’s regulators have taken numerous steps in recent years to open up the asset management industry to international participation. Combined with the country’s rapid growth in personal wealth, it offers enormous potential,” Eric Duffaut, president and global head of field and marketing at Finastra, said.

China has taken a number of steps to open up capital markets. Qualified Investors no longer need to apply for any investment quota from the State Administration of Foreign Exchange, aka SAFE, for example. 

China’s assets under management will see a compound annual growth rate of 11 per cent to 15 per cent between 2018 and 2025, according to figures cited by Finastra.