Fund managers, foreign and Chinese, target QFII business

While foreign firms like Invesco seek QFII licences, some local fund mangers find QFII accounts lucrative.

China's qualified foreign institutional investor QFII scheme is quickly shifting from a business dominated by global brokers to one where both foreign and domestic fund management companies are making inroads.

Sources at Chinese fund management companies report that two foreign fund managers, including Invesco, have submitted applications for QFII licences to the China Securities Regulatory Commission. The CSRC is keen to get global fund houses directly involved in the A-share market, and its green light is expected in...

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