China This Week – 2 October 2015

Added 2nd October 2015

A roundup of the week's asset management industry news from mainland publications.

China This Week – 2 October 2015

First wholly foreign-owned fund firm to be launched in Shanghai

One of Britain’s biggest fund firms will set up a wholly-owned subsidiary in the Shanghai Free Trade Zone, according to an official of the zone, who declined to disclose the name of the company. To date, foreign fund firms had to partner with a domestic firm to operate in China and could own no more than 33% of the joint venture., Sept. 30

QFII and RQFII quota approval accelerated

In September, the State Foreign Exchange Administration approved $5.5bn of QFII quota (used by foreigners to invest in mainland China market) and 6.6bn yuan ($1.03bn) of RQFII quota (used by foreign investors to channel capital raised in Hong Kong directly into China's market). The figures for August were $3.2bn in QFII and 1.1bn yuan for RQFII.

Securities Daily, Sept. 30

Environment-protection-themed funds return 30% on average

In China, environment-protection-themed funds are the best performing class of the year. The 12 actively-managed funds launched before 2015 returned about 30% in the year to September 18. All but one fund registered positive yields.

Securities Times, Sept. 30

Record 36 QDII funds launched this year

A record 36 QDII funds (used by domestic Chinese investors for overseas investment) have been launched this year compared to 11 in 2014, as investors are seeking more overseas exposure amid domestic stock volatility and growing expectation of further yuan devaluation.

China Funds, Sept. 30

Fund firms warn of overheating in bond market

As investors are turning to bonds for safety after China’s stock rout, fund firms are warning of bubbles in the bond market as yields of some corporate bonds fall to the levels of China’s sovereign debt. There are already three cases of corporate notes defaulting this year.

China Securities Times, Sept. 30

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