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Baring AM awarded RQFII licence

Added 2nd December 2014

The RQFII licence will allow Baring Asset Management direct access to mainland Renminbi-denominated equity and fixed income securities.

Baring AM awarded RQFII licence

The company said the Renminbi Qualified Foreign Institutional Investor licence will be “very positive” for foreign investors attracted to China’s RMB 30trn onshore bond market.

It added that its new access to China’s domestic A-share market will enable the further development of its existing offshore product set, which includes one of the first mutual funds to invest in the region, and the first dedicated China fund, launched in 1985.

David Stevenson, head of business development, said: “The RQFII programme is further evidence of China’s integration into mainstream global financial markets, and there are clear benefits for investors looking for onshore opportunities in the world’s second-largest economy.”

He added that the licence represents the “natural evolution” of Barings’ Chinese business, and would also support its current operations there.

Additional advantages of RQFII include fully flexible allocations to both equities and bonds, and daily liquidity for open-ended funds.

In October, Singapore-based fund manager Lion Global Investors was awarded a RQFII licence and announced its plans to launch a suite of unit trusts in a bid to fully participate in China’s onshore equity and fixed income markets.

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