BNP Paribas SS wins RQFII mandate

BNP Paribas SS wins RQFII mandate

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BNP Paribas Securities Services has won a custody and fund administration mandate from China Universal Asset Management Hong Kong Company (CUAMHK) to provide services for its renminbi qualified foreign institutional investor (RQFII) Ucits fixed-income fund.

The global custodian will also facilitate CUAMHK's access to the Shanghai-Hong Kong Stock Connect Programme.

“We are delighted to partner with CUAMHK as they seek to distribute their RQFII Ucits product more widely," said Stephanie Marelle, head of Hong Kong at BNP Paribas Securities Services. "In addition, the investment options presented by combining RQFII quotas and Stock Connect Northbound trading enhance diversity and present opportunities not available previously.”

The Ucits vehicle will allow CUAMHK to distribute its funds in multiple jurisdictions across Europe and Asia for the first time, diversifying its client and investment base. 

“RMB internationalisation will further enhance the demand for access to the Chinese mainland market. With our upcoming Ucits funds we will provide this possibility through RQFII and also Stock Connect," said Shelley Yang, managing director and head of international business of CUAM. 

"We are very happy to work together with BNP Paribas Securities Services on these endeavours, who have proved to be a reliable and trusted partner.”

CUAMHK, a wholly owned subsidiary of China Universal Asset Management, launched their first RQFII fund in Hong Kong in 2012. It specialises in China-related investment management solutions and its current RQFII quota stands at RMB 3.1bn.

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