CIMB-Principal Asset Management Berhad , the first asset management company in Malaysia to have received the Renminbi Qualified Foreign Institutional Investor (RQFII) licence in March 2017, was recently awarded an additional quota of RMB1 billion (approximately USD150 million) by the China State Administration of Foreign Exchange.The RQFII licence allows investors to gain direct access to the China A-Shares market, otherwise accessible to only China on-shore investors.
The initial quota of RMB600 million (approximately USD100 million) was fully utilised just after two months through the CIMB-Principal China Direct Opportunities Fund (“the Fund”) launched in March 2018. The Fund is an equity growth fund that aims to provide capital appreciation over the medium to long-term and will invest a minimum of 70% of its net asset value (NAV) in China A-Shares focusing mainly on small and mid-cap companies with good growth potential, while the remaining 30% of its NAV will be invested in liquid assets.
Munirah Khairuddin, Chief Executive Officer of CIMB-Principal said, “Achieving our target fund size of USD100 million just after two months speaks volumes of investors’ bullish long-term view of China’s growth story. In response to the overwhelming demand for our maiden China-focused Fund, we are pleased to provide investors with this golden opportunity – through the additional RQFII quota of RMB1 billion – to benefit from the growth prospects of China’s ‘new’ economy and the world’s second largest equity market. The visibility of China A-Shares has also been greatly enhanced following its inclusion in the MSCI global indices on 1 June 2018.”кисти для нанесения тонального крема
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