The wholly-owned foreign enterprise will help drive Fullerton's growth in the Chinese market, Fullerton said.

Singapore's Fullerton Fund Management's wholly foreign-owned enterprise in Shanghai has got the regulatory green light to offer onshore investment services in China.

Fullerton Investment Management (Shanghai) Co was cleared to provide the services from the Asset Management Association of China.

"With this investment advisory approval, we look to enhance the value proposition we offer to onshore investors, particularly institutions," Jenny Sofian, Fullerton’s CEO, said.

Fullerton Fund Management managed its first China strategy in 2006 and opened its first foreign representative office in China in 2007.

The WFOE, Fullerton  Shanghai, was established in December 2013 and obtained its private fund management approval from the AMAC in September 2017. Fullerton Shanghai then launched its first onshore private fund product in February 2018.

Before it was created in 2003, Fullerton’s investment team operated as the internal fund management division within Temasek, the Singapore sovereign wealth fund.