JPMorgan Asset Management has won approval from China’s regulator to sell two Hong Kong-based funds into the mainland, in the latest sign of China opening its markets to foreign institutions.
The US-based fund group has gained the green light from the China Securities Regulatory Commission to distribute its Asia equity dividend fund and global bond fund through its local joint venture, China International Fund Management.
The funds will be distributed through the ‘mutual recognition of funds’ scheme, which was set up mid-2015 to allow international asset managers to sell their Hong Kong-registered products to Chinese investors for the first time. In return, Chinese managers can sell funds to Hong Kong-based investors.
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