What's the background to investing in the mainland domestic A share market
Ruffle We're an Edinburgh-based fund company which has been investing in China since the early 1990s. In around 1994, I decided the companies offered on the domestic market offered greater private sector opportunities than the ones listed internationally or on the foreign currency B-share market. We finally started investing in A shares in 1997.
How did you get around the regulatory barriers at the time
We set up a swap agreement with a local broker. We deposited money offshore and the local broker paid us a return equivalent to the return...