China Universal Asset Management (HK) to apply for RQFII license
12 October 2012
News, Asia, China, Hong Kong
By Hui Ching-hoo
China Universal Asset Management (HK) is looking to apply for an RQFII ETF license after the fund manager launched its first RQFII fund, RMB Bondplus Fund, in January.
China Universal Asset Management (HK) Chief Marketing Officer Doris Wong told Asia Asset Management that the RQFII ETF will be rolled out in the form of dual counters, which means the product can be traded in both RMB or HK dollars. She did not reveal the timetable for the launch.
Separately, the firm’s investment director Michael He noted that the RMB Bondplus Fund posted an accumulated return of 2.03% up to the end of September, beating its benchmark indexes CSI Universal Bond Index and CSI 300 at 0.01%. With this, the fund was ranked fourth highest, in terms of returns, among RQFII funds.
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