Northern Trust launches hedge fund admin business to support QDLP

29 April 2014   Category: News, Asia, China, Global, Singapore   By Asia Asset Management

Northern Trust has launched its hedge fund administration business in China, which will provide local market expertise and solutions to hedge fund clients as they participate in the Shanghai Qualified Domestic Limited Partner (QDLP) programme.

The specialist fund administration capability will be offered from Northern Trust’s Beijing office.

Launched in mid 2013, the Shanghai QDLP programme allows a number of authorised foreign hedge fund managers to raise funds onshore and invest them abroad. 

At the end of 2013, six global hedge fund managers had been awarded the QDLP licences: Och-Ziff, Citadel, Oaktree, Canyon, Man, and Winton. Each of them has been granted a quota of US$50 million.  

“The Shanghai QDLP programme marks the first time any foreign financial institution is permitted to raise capital from domestic investors in China and invest these proceeds offshore and will offer attractive opportunities to international hedge funds and domestic players alike,” said Michael Wu, country manager for Northern Trust in Beijing. “We are pleased to expand our award-winning hedge fund administration capabilities in support of this pilot programme from our Beijing office.”