Ashmore, a UK -based emerging markets investment manager, has been granted a Renminbi Qualified Foreign Institutional Investors (RQFII) status by the China Securities Regulatory Commission (CSRC) that allows investment in China’s equity and fixed income markets.
The RQFII license will enable international investor’s unprecedented access to the Chinese onshore equity and fixed income securities markets.
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Additionally, the status will provide improved ease of repatriation of funds compared to the existing QFII scheme, and will offer more flexible investment guidelines for investors in China.
In London, the RQFII London scheme will further facilitate the investment of the growing pools of offshore RMB (CNH) managed by large corporate and retail investors in the onshore Chinese securities markets.
As part of the RQFII scheme, Ashmore has teamed up with HSBC, which marks as the first onshore Chinese custodian bank servicing a London based asset manager.
Jan Dehn, head of research Ashmore said:"China has been one of the most compelling, yet difficult markets for investors to access. China’s over US$4.0 trillion Interbank Bond market is poised for considerable growth and development as China continues to liberalise, and the over US$3.5 trillion A-shares equity market already has a market capitalisation above that of the London Stock Exchange."
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By GlobalDataChristoph Hofmann, global head of distribution Ashmore said: "The Chinese investment market is one the most dynamic in the world, and securing this licence from the CSRC is a reflection of Ashmore’s long-standing commitment and deep ties to China. Many of our clients are looking for ways to make dedicated investments in China as part of their well- diversified global portfolios."
