Pictet gets QFII green light
The asset management division of the Swiss private bank receives foreign institutional investor approval by China's regulators.
Global appetite for investing in China and a desire to break away from a reliance on brokers are the key motivations behind PictetÆs successful attempt to obtain a qualified foreign institutional investor license.
Although the size of the mandate will not be revealed for several months, Pictet Asset Management executives say the awarding of a mandate in principle by the China Securities Regulatory Commission is evidence that the firm is serious about its expansion ambitions in Asia-Pacific.
ôThe State Administration...
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