T. Rowe Price Inc. announced it was one of the 10 investment managers selected to provide investment management for China's National Council for Social Security Fund.
The Baltimore firm said Wednesday that this is the first time the fund has partnered with non-Chinese investment managers.
T. Rowe Price had $308.1 billion of assets under management as of Sept. 30.
The fund also awarded mandates to Allianz Asset Management Co., Invesco Investment Management Co. Ltd., and UBS Global Asset Management Co. to invest in Hong Kong shares.
AllianceBernstein Co. Ltd., Axa Rosenberg Investment Management Asia Pacific Co. Ltd., and State Street Global Advisors Investment Management Co. Ltd. were chosen to invest in non-U.S. equities. Janus Intech Asset Management Co. Ltd. and T. Rowe Price were selected to invest in U.S. equities.
