The Singapore-based fund manager, which oversees assets totalling $25.8m (£16m,€20.4m), also has plans to launch a suite of RQFII unit trust funds to fully participate in China’s onshore equity and fixed income markets.
This means that RMB onshore bonds and balanced funds are now included on the list of Lion Global offerings, alongside the company’s A-share portfolios, which they have been managing since June 2010.
Gerard Lee, chief executive of Lion Global Investors, said: “We’re very glad to be given the RQFII licence as it allows us to continue with our roll-out of onshore RMB funds.”
The company said that The Bank of China, its onshore custodian bank in China, “helped simplify” the process for the application of the RQFII licence.
“Strong focus”
Guo Ning Ning, general manager of Bank of China Singapore branch, said the Bank of China has “a strong focus on developing the RMB business in Singapore, targeting both institutional and retail investors.”
Lion Global Investors was granted the QFII (Qualified Foreign Institutional Investor) licence in May 2012 and received a $50m investment quota in March 2013.
