Aussie RQFII demand low, hangs on MSCI move

Demand for renminbi-denominated securities is expected to be lacklustre in Australia, at least initially, despite Sydney being touted as next in line to be awarded RQFII quota by Beijing. Mark Wills, head of the investment solutions group for Asia Pacific ex-Japan at State Street Global Advisors, noted that Australia was "at the higher end of countries that have offshore investments, and by definition have a higher allocation to emerging market equities”. Due to the developed re…