The Chinese asset manager will set up a range of Luxembourg Sicav funds by the end of the year in a move to target European investors.
Luxembourg gets RQFII quota; CSRC targets illegal trading; Korea reforms markets; China tightens FTZ rules; MAS revises laundering regulations; HK looks at information sharing; and Saudi opens up.
Draft plans to remove tax benefits for cross-border funds to eradicate Base Erosion and Profit Sharing could significantly impact investment into Ucits, the Alfi conferences hears.
Ucits products designed in Europe for global distribution often make regulators in Asia uncomfortable, Lieven Debruyne tells a conference in Luxembourg.
Chinese fund managers are eyeing yield-hungry Europeans following Luxembourg's move to allow RQFII Ucits bond products, notes David Li of CACEIS, which is awaiting a trustee licence in Hong Kong.
The time and cost of listing a Ucits product in Dublin may make it a more attractive funds domicile than Luxembourg for Asian managers, particularly Chinese.