China’s Securities Regulatory
Commission granted Aberdeen Asset Management a Qualified Foreign
Institutional Investor (QFII) licence allowing Aberdeen to invest
in domestic Chinese securities.
Aberdeen said it sought the licence to
support its Singapore-based Asian fixed income team, which manages
more than $5bn in assets.
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The asset manager said it saw China’s
index share growing substantially in the years ahead as, in
addition to government issuance, companies are being encouraged to
diversify their borrowing away from bank debt.
“China has seen substantial growth in
its onshore government and corporate bond markets in recent years,
growth we expect will continue for some time to come,” said Anthony
Michael, Aberdeen’s head of Asia Pacific fixed income.
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