Shanghai QDLP expanded to include domestic fund firms

Shanghai has expanded the qualified domestic limited partner (QDLP) scheme to domestic mutual fund companies, in a bid to diversify licenced holders and to create more competition for applications with other cities. Shanghai-based China International Fund Management (CIFM), a joint venture between JP Morgan Asset Management and Shanghai International Trust and Investment, received the QDLP qualification from Shanghai Financial Service Office (FSO) last week. It becomes the first…