Korea JV moves into A shares with RQFII funds
As Korean managers line up for a renminbi licence, NH-CA Asset Management will use its recently-awarded RQFII quota to establish an onshore A-share equity fund.
Korea-based asset manager NH-CA plans to launch its first onshore A-share equity fund next month, after the firm received a Rmb1.5 billion ($240 million) RQFII quota.
The fund launch will capitalise on Korean retail demand for China equities, appetite for which has grown strongly since stocks rebounded late last year.
It comes as Korea sees a flurry of applications for the cross-border renminbi trading scheme, with Rmb11 billion in quota handed out in five months.
NH-CA, a Kor…
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