ChinaAMC: the first batch of QDII

ChinaAMC’s application for the Qualified Domestic Institutional Investor was approved by CSRC recently. ChinaAMC is the first batch of Investment Mangers approved by CSRC since the QDII Overseas Investment Management Trial Measure issued on 5^th July, 2007. It is a milestone for the domestic fund management industry. It is the fund management companies’ first step to start overseas investment and participate in the competition in the global market.

ChinaAMC has already prepared several QDII products. The ChinaAMC Global Selection Fund is the equity fund and invests in global markets such as the US, Europe, Japan, Hong Kong and Emerging Market. The foreign investment advisor for this product is T. Rowe Price Group which is one of the largest independent asset management companies with AUM more than US$ 300 billion. T. Rowe Price is also one of the NCSSF’s foreign investment mangers. The custodian bank for this product is China Construction Bank who has selected Chase Morgan Bank as the sub-custodian bank.