Julius Baer has made a low double-digit US million dollar equity investment in China-based GROW Investment Group (GROW), marking the Swiss private bank’s first step into onshore China.

GROW, whose clients will gain access to Julius Baer’s global investment expertise, says its aim is to be a world-class, next-generation asset management firm with a focus on China.

The companies will jointly establish a distribution network so that GROW’s domestic clients will gain access to selected Julius Baer offerings, via qualified domestic limited partnership (QDLP) products, and Julius Baer’s global clients will gain access to local investment expertise and assets, via the qualified foreign institutional investor (QFII) products of a trusted Chinese partner.

“The opportunities in the sector in China are bright, and we are looking forward to gaining visibility and bringing our best-in-class solutions and expertise to Chinese clients,” says David Shick, head of Greater China at Julius Baer. “The cooperation will undoubtedly create value for these clients and support our growth plans for this important market.” 

William Ma, GROW’s global CIO, adds: “There are significant untapped opportunities for us in onshore China, and we look forward to growing our business together.”