Nancy Qu, Author at Fund Selector Asia

UBP granted QDLP license

The mainland asset management unit of the private bank is expanding its China footprint.

The US-based firm has prepared four SFC-approved products for launch.

Despite headwinds in China’s tech industry, the firm has a tilt toward internet, healthcare, 5G and electronic component makers.

Hong Kong-based Convoy AM was fined by the regulator for lacking proper due diligence and documentation procedures, the SFC said.

Separately, traditional investments, including mutual funds, accounted for around 80% of the products distributed by the firm in Q1.

Following S&P, Fitch Ratings has obtained a license that allows the firm to rate the securities of onshore China companies.

JP Morgan Asset Management takes a step closer to becoming the first foreign asset manager to own 100% of an onshore mutual fund house.

Expectations that Nasdaq market volatility will escalate should increase Hong Kong investor interest in L&I products, the firm believes.

Effective June, QFII and RQFII quota restrictions will be lifted.

The fund, which has an 18-year track record, is distributed through the Mutual Recognition of Funds scheme.