Huaan and Lehman launch first QDII fund
For the first time, Chinese investors get access to a variety of asset classes û and the deal shows you donÆt need a JV to manage Chinese money.
Shanghai-based Huaan Fund Management has been given approval by the China Securities Regulatory Commission CSRC to launch the nationÆs first QDII fund, an open-ended mutual fund giving Chinese retail and institutional investors exposure to international assets.
Huaan partnered with Lehman Brothers for the project. Huaan will control the asset allocation while Lehman will manage the underlying funds, including existing pooled vehicles as well as customised accounts, says Frank Yao, CIO at Huaan.
ôWeÆre not just sending money to Lehman Brothers,ö...
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