DBS' China operations got a boost on Friday. A joint venture between DBS Asset Management and China's Changsheng Fund Management has been granted the Qualified Domestic Institutional Investor (QDII) licence. The licence will allow Changsheng to help its clients invest their funds in overseas markets.
Under the QDII scheme, Chinese investors can invest in foreign securities markets through certain fund management institutions, insurance companies, securities companies and other asset management institutions.
These institutions would need to be approved by the China Securities Regulatory Commission.
Changsheng will launch a fund that will focus on varied industries in fast-growing economies.
DBS Asset Management holds a one-third stake in Changsheng. - CNA/ms
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