By Selena Li

HONG KONG, May 15 (Reuters) - Schroders SDR.L is exiting its wholly-owned China fund unit and has reached a deal to sell its products to Neuberger Berman, three people with knowledge of the matter said, as the British fund manager looks to move out of smaller operations.

The moves comes a month after Schroders shareholders approved a 9.9 billion pound ($13.2 billion) sale of one of London's historic fund houses to U.S. rival Nuveen to create one of the world's largest active fund managers.

U.S. asset manager Neuberger' wholly-owned China unit has reached a deal with Schroders to takeover the fund products from Shanghai-headquartered Schroders Fund Management (China), which was launched in 2023, said the sources.

Financial details of the deal were not immediately known.

All the sources declined to be named as they were not authorised to speak to the media. Schroders and Neuberger declined to comment.

($1 = 0.7492 pounds)