NEWS
JP Morgan AM to launch QFII fund in Taiwan
04 February 2013
Category:
News, China, Taiwan
By Asia Asset Management
JP Morgan Asset Management (Taiwan), affiliated to JP Morgan Chase & Co, is looking to launch its first QFII fund in Taiwan, with fundraising set between US$100 million and $150 million, according to the Wall Street Journal.
Jason Pu, executive director of JP Morgan Asset Management in Taiwan told local media that the QFII fund is set to invest in the A-share market. The fundraising is scheduled to be carried out in April, though it has yet to receive approval from the island’s market watchdog. The company was awarded QFII status from the China Securities Regulatory Commission (CSRC) in November last year, but it has yet to receive the QFII quota from the State Administration of Foreign Exchange.
On January 29, the CSRC held talks with Taiwan’s Financial Supervisory Commission to study the feasibility of loosening the $5 billion minimum AUM requirement on Taiwan financial institutions seeking to invest in China under QFII scheme.
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