HSBC and Credit Suisse joint ventures with Chinese asset management firms run two of the four funds approved by the Securities and Futures Commission:
--ChinaAMC Return Securities Investment Fund from China Asset Management Co
--GF Industry Leaders Mixed Assets Fund from GF Fund Management Co
--HSBC Jintrust Large Cap Equity Securities Investment Fund from HSBC Jintrust Fund Management Co
--ICBCCS China Core Value Mixed Fund from ICBC Credit Suisse Asset Management Co
The SFC said it was waiting for China Securities Regulatory Commission approval of the first batch of three Hong Kong funds for public offering in China.
The SFC and the CSRC have been accepting MRF applications since 1 July 2015.
“The approval of the first batch of funds under the MRF is a milestone in the implementation of this important cross-border cooperation initiative,” the regulator said.