(Yicai) March 28 -- The Chinese investment fund under US investment giant Neuberger Berman Group has hiked its registered capital for the third time as the Chinese market continues to expand.

Neuberger Berman Fund Management China increased its registered capital by 40 percent to CNY420 million (USD58.1 million), according to information on China’s national credit information publicity system.

The China Securities Regulatory Commission approved the establishment of Neuberger Berman Fund Management China in September 2021, becoming the third foreign-owned fund to be greenlit in the country after those of BlackRock and Fidelity International. At the moment, there are nine foreign-funded public fund companies in the Chinese market.

Since then, Neuberger Berman Fund Management China has hiked its capital twice, in 2022 and 2023. The first time, the increase was to CNY206 million from CNY150 million, while the second was to CNY300 million.

Neuberger Berman Fund Management China has issued a total of five funds covering a range of products, including secondary debt funds, equity-oriented hybrid funds, medium-to-long-term pure debt funds, and common stock funds. It became the first foreign-funded public fund company in China with non-monetary assets exceeding a scale of CNY10 billion (USD1.4 billion).

In addition to Neuberger Berman Fund Management China, also Fidelity International’s China fund hiked its registered capital this year. Fidelity Fund Management China increased its capital by 23 percent to USD160 million in February, marking the fourth such move since its establishment in 2021.

Editor: Futura Costaglione