Some of the world’s largest asset managers have gotten a rough welcome in China.
No sooner did fund managers like BlackRock Inc. BLK -0.11% and Fidelity International roll out their inaugural Chinese stock funds for wealthy domestic investors than the country’s markets started sliding—the Shanghai Composite index has fallen 19% this year. The declines have coincided with escalating trade tensions between China and the U.S., China’s weakening currency and a slowdown in economic growth.