UK insurer Prudential and China’s Citic Group have attracted some 30 billion renminbi ($5 billion) in assets to a wealth management subsidiary launched by their joint venture in just six months, underscoring the potential opportunities for fund managers in China.

Citic-Prudential Fund Management Company owns a 55% stake in the wealth management subsidiary, which is called Citic-CP AMC. The remaining 45% is owned by Citic Trust, another of Citic's units.