They include HSBC which will distribute three Asia bond products to Mainland investors.
Eastspring, JP Morgan and Morgan Stanley face a six-month deadline to roll out their debut onshore products.
Northbound funds under the Mutual Recognition of Funds (MRF) scheme continue to see outflows, although more asset managers plan to sell Hong Kong-domiciled funds on this platform, according to China’s financial regulators.
This week the regulator approved three Hong Kong-domiciled products, which are aimed at eventual sale to mainland investors via the Mutual Recognition of Funds scheme.
Hong Kong’s Securities and Futures Commission (SFC) reveals discussions with the mainland regulator to relax the limit on overseas delegation.
China’s Bosera and Aberdeen Standard Investments have filed an application to sell an emerging market bond fund under the Mutual Recognition of Funds (MRF) scheme.
Morningstar’s semi-annual report on China’s best mutual fund ideas chose 16 onshore funds based on fund manager experience, consistency in investment process and performance in several market cycles.
April marked five consecutive months of net outflows for Hong Kong-domiciled funds sold in China through the Mutual Recognition of Funds (MRF) scheme, according to the latest data from the State Administration of Foreign Exchange (SAFE).
The cross-border Mutual Recognition of Funds scheme added a global equity northbound fund managed by Amundi and received two more applications from Haitong International Asset Management.
Another Hong Kong equity fund has been approved for distribution on the mainland under the Mutual Recognition of Funds (MRF) scheme, according to the China Securities Regulatory Commission (CSRC).