License for RMB fund
Print Edition
JPMorgan Chase has received a regulator’s nod to offer local securities investment funds to investors in China, the bank said yesterday.
The China Securities Regulatory Commission has allowed JPMorgan’s locally incorporated bank to offer an renminbi money market fund to its institutional and corporate investors, said the bank’s notice yesterday.
The fund is managed by China International Fund Management Co Ltd, a joint venture of JPMorgan Asset Management (UK) Limited and Shanghai International Trust Co, Ltd.
Zili Shao, chairman and CEO of JPMorgan China, said “we now integrate best-in-class asset management advisory services for our institutional clients.”
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