So far, a handful of Chinese fund management companies have received preliminary clearance to sell products holding overseas stocks to mainland Chinese investors.
Fortis Haitong Investment Management — a Chinese fund management joint venture co-owned by Belgian-Dutch financial services group Fortis — is among the first batch and expects its maiden Qualified Domestic Institutional Investor (QDII) fund to hold assets of at least US$500 million, Tian Rencan, the JV’s chief executive, said at the China Century Summit.
