MRF approvals putting pressure on RQFII funds
More mainland funds have received the go-ahead for sale in Hong Kong under the mutual recognition scheme. They are tipped to provide stiff competition for RQFII products.
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The fast-growing number of China funds approved for sale in Hong Kong under the mutual recognition scheme are tipped to put pressure on global managers of RQFII and QFII funds, as mainland-based firms’ products tend to offer better performance.
A further 10 mainland products got the green light from Hong Kong’s Securities and Futures Commission (SFC) on Tuesday, taking the total to 23. That is over 70% of the 30 or more funds seeking approval for southbound sale. They are expected…
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