The Chinese fund firm is setting out to list a new ETF in Shanghai tracking Germany’s Dax index, which will test shaky domestic investor appetite for overseas stocks.
After receiving its RQFII quota, Harvest Global Investments plans to launch its MSCI China A ETF in mid-October, saying it will offer the broadest access yet to the A-share market.
Ko Sungwon, head of global fixed income at Korea’s NPS, suggests adding corporate credit, EM bonds and global equities to augment returns in the low-rate environment.
The firm is granted regulatory approval to merge its two existing securities enterprises to increase its onshore competitiveness.
Mainland trust companies and insurance asset managers will find it easier to grow their funds businesses following a relaxation of the rules on opening securities accounts in China.
Chinese trust companies are expecting the regulator to broaden the range of securities they are permitted to invest in, until they are eventually on a par with fund managers and securities firms.
The Chinese house has hired BBVA’s Asia equities head Eugene Lee as global head of sales and marketing. It comes as the Spanish bank shuts its equity sales and structuring desk.
The firm says it wants the flexibility of the RQFII scheme to be adopted in order to create a level playing field between Chinese, Hong Kong and foreign ETF operators.
Island authorities have moved to double the investment quota for mainland investors, but Chinese fund houses are sceptical about the market’s appeal.
Shanghai Stock Exchange is offering incentives to spur improved domestic payout ratios, but a change in investor thinking is not expected overnight.
Two offshore products tracking A-share indices are poised to be listed on the Hong Kong stock exchange, posing a challenge to existing synthetic ETFs.
ABC-CA fund management, a unit of Agricultural Bank of China, appoints a new chairman to replace Yang Kun, who has been detained on unspecified charges.