AMP enters China joint venture

Group will set up funds manager with China Life Asset Management Company.

AMP Capital (AMP) will set up a funds management company in China in a joint venture with a subsidiary of China's largest institutional investor.

In a statement to the Australian Securities Exchange, AMP said it will work with China Life Asset Management Company, a subsidiary of China Life Insurance (Group) Company.

They will initially offer retail and institutional investors in China investments in domestic listed equities and fixed income. 

AMP Capital will have a 15% stake in the venture, called China Life AMP Asset Management Company Ltd.