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Capital Group eyes China expansion, rejects MRF

Bernadette Tio
The US firm will not use the Hong Kong-China mutual recognition of funds scheme but plans to wait for rules allowing direct access to mainland retail clients, says its Asia head.
Capital Group eyes China expansion, rejects MRF

US asset manager Capital Group feels the mutual recognition of funds (MRF) scheme is not the best way to access China and plans instead to set up an onshore presence and directly access the retail market, when regulators allow it.

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