At least three other firms are expected to roll out QDLP funds in the mainland.
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At least three other firms are expected to roll out QDLP funds in the mainland.
The mainland asset management unit of the private bank is expanding its China footprint.
In total, seven foreign firms have applied to participate in the QDLP programme that was recently launched in the capital, including Amundi and Bridgewater Associates.
The US firm has been approved for its second QDLP product, which allows it to gather domestic money to invest offshore.
Singapore-based Eastspring Investments and Allianz Global Investors have been approved for QDLP products.
A senior China appointment signals that the firm may be coming off the sidelines to follow competitors, who have already launched multiple funds onshore.
The alternatives specialist and the Switzerland-based asset manager have gained approval to sell products in China.
The Hong Kong-based asset manager has registered its seventh onshore product and now has the most private fund management (PFM) products.
Low correlation with Chinese equities and stable income are the two criteria mainland investors use to appraise QDLP products, according to Noah’s William Ma.
Eastspring, JP Morgan and Morgan Stanley face a six-month deadline to roll out their debut onshore products.
Part of the Mark Allen Group.