Northbound funds under the Mutual Recognition of Funds (MRF) recorded net inflows of RMB 67.4m (9.8m), the first time in six months inflows beat outflows, according to latest data from the State Administration of Foreign Exchange.
Tag: Cross Border
Study: JPM remains China’s dominant foreign manager
JP Morgan remains a top player in China’s highly competitive fund business, according to Z-Ben Advisors’ annual ranking of foreign financial services firms in the mainland.
Is the MRF a one-way scheme?
After 1.5 years, China’s regulator still hasn’t explained the delay in approving northbound funds through the MRF scheme, raising questions about how mutual the scheme is, according to industry players.
MRF reports $1.1bn in first-year sales
After the first full year of operation, the Mutual Recognition of Funds scheme had net sales of about $1.1bn, the bulk of that from northbound fund sales.
Sales slowdown for MRF northbound funds
Net cross-border sales of the four Hong Kong funds available to mainland investors saw growth slow in April, but it was still 24 times higher than the southbound flow.
Citic launches wealth management business
Hong Kong-based China CITIC Bank International (CNCBI) and its mainland parent bank have launched Diamond Wealth Management to address the booming cross-border demand from high-end clients.
