morgan-stanley-prudential-get-china-qfii-nod

Morgan Stanley, Prudential get China QFII nod

Their asset management arms are on track to win their own access to ChinaÆs A-share market, following Goldman Sachs and JF Asset Management.
Morgan Stanley Investment Management and Prudential Asset Management have been given preliminary approval by the China Securities Regulatory Commission for licenses as qualified foreign institutional investors.

Both firms are now waiting for the State Administration for Foreign Exchange to give them the actual quota sizes, which they expect in six-to-eight weeks, at which point they can provide more details about product development.

Ajay Srinivasan, managing director at Prudential Asset Management in Hong Kong, says the quota size will shape the nature of the product Pru can create for international investors.

Tony Archer, managing director at Morgan Stanley Investment Management, says the firm intends to offer something innovative with its quota. Giving international investors direct China...
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