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

The mainland asset management unit of the private bank is expanding its China footprint.
The US asset manager has applied to China’s regulator for a licence to access the country’s retail investor market.
Following S&P, Fitch Ratings has obtained a license that allows the firm to rate the securities of onshore China companies.
The Hong Kong-based firm aims to participate in the MRF programme in addition to planning PFM funds this year.
William O’Neil will be competing against other foreign quant players that have launched products in China.
Effective June, QFII and RQFII quota restrictions will be lifted.
The global market plunge in the first quarter prompted investors to reduce global exposure and put money into China via the Mutual Recognition of Funds (MRF) scheme, data shows.
Europe has the most number of firms that made it on the list.
In total, foreign players have launched nearly 80 onshore funds in the mainland via the PFM route.
Foreign fund houses are increasingly launching onshore funds as China continues to open its financial services industry.
Part of the Mark Allen Group.