HONG KONG--Media OutReach-- 14 November 2013 -- Emerging markets specialist Mirae Asset Global Investments (Hong Kong) Limited ("Mirae Asset HK") is pleased to announce it has been awarded a license under the Renminbi Qualified Foreign Institutional Investor ("RQFII") scheme by the China Securities Regulatory Commission (the "CSRC") on 30 October 2013. This license allows Mirae Asset HK to carry out investments directly in China's Renminbi-denominated equity and fixed income markets.
RQFII is a policy initiative from the Chinese mainland authorities which allows qualified holders to offer investment products that invest in China's A-share equity and fixed income markets in the local Renminbi currency. RQFII products give greater opportunities for retail and institutional investors to capitalize on the China growth story.
Mr. Jung Ho RHEE, Chief Executive Officer of Mirae Asset HK, says "We are delighted to be one of the first wholly-owned foreign asset managers to receive this opportunity from the CSRC to invest in China's onshore market. In addition to the QFII license approval, this marks another major milestone in our ability to offer more innovative products to all our valued clients and investors."
Mirae Asset HK is part of Mirae Asset Global Investments Group (the "Group"), one of the world's largest active investors in emerging market equities1 with over US$58.9 billion of assets under management (as of 30 September 2013). With offices spanning across 12 countries, the Group offers a broad range of investment solutions including mutual funds, ETFs and alternative investments.
About Mirae Asset Global Investments (Hong Kong) Limited
Mirae Asset Global Investments (Hong Kong) Limited is part of the Mirae Asset Global Investments Group (the “Group”), and is authorised and regulated by the Securities and Futures Commission of Hong Kong.
Since 1997, the Group has become one of Asia's largest independent asset managers and the world’s largest active investors in emerging market equities1. Globally, the Group has in excess of US$58.9 billion of assets under management (as of 30 September 2013) across a diversified platform to offer market-leading investment services and solutions in traditional equity and fixed income products, ETFs and alternative strategies, such as real estate, private equity and hedge funds.
Headquartered in Korea, the Group has a presence in 12 countries worldwide, including Australia, Brazil, Canada, China, Colombia, Hong Kong, India, Korea, Taiwan, United Kingdom, USA and Vietnam. The Group includes over 120 investment professionals dedicated to asset management in Asia and other emerging markets.
1 Source: One of the largest investors in emerging market equities amongst 79 asset management firms surveyed by Investment & Pensions Europe (“IPE Survey: Managers of Emerging Market & Frontier Equities,” 31 January 2013.)
2 The website has not been reviewed by the Securities and Futures Commission of Hong Kong. It may contain information on funds which are not authorised for sale to the public in Hong Kong and are not available to Hong Kong investors.
Contact:
Richard Huang, Head of Marketing Communications
Tel: +852 3555 5812
Email: richard.huang@miraeasset.com