The China fund venture of HSBC Holdings is looking to expand its product line over the next five years, Reuters reports. HSBC Jintrust Fund Management Co. may roll out its first product under the qualified domestic institutional investor (QDII) scheme next year.
The China Securities Regulatory Commission (QSRC) could relax rules on overseas investment funds, allowing HSBC Jintrust to launch its products. Currently QSRC gives QDII licenses to fund houses with a minimum of $3.148 billion in local-currency assets. HSBC Jintrust is also looking to strengthen its qualified foreign institutional investors advisory business by 20 percent to 30 percent of its total assets under management by 2015.
Click here for the story from Reuters.
HSBC Holdings China Securities Regulatory Commission China HSBC Jintrust Fund Management Co. HSBC