Audio – HSBC’s China fund arm to tap domestic investors looking overseas

September 4, 2007

hsbc.jpgAs China increasingly creaks open the door for domestic investors to invest overseas, HSBC Holdings’s Chinese fund management joint venture aims to launch a life cycle fund this year to raise up to 10 billion yuan ($1.33 billion), CEO Steve Lee said at the Reuters China Century Summit.

HSBC Jintrust also plans to launch a fund in May of next year to invest client money in overseas financial markets under China’s QDII scheme, Lee said.

Chinese fund management companies, brokerages and banks are rushing to launch Qualified Domestic Investor Scheme (QDII) funds — a national scheme aimed at easing upward pressure on the country’s currency and broadening investment choices for domestic investors.

Click here to hear Lee’s views on China’s fledgling bond market and what it needs to develop:

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