Sat, Dec 20, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Shanghai to limit QDLP program to $3-5bn according to sources

Thursday, December 27, 2012

Benedicte Gravrand, Opalesque Geneva:

The Shanghai government launched an initiative called "Qualified Domestic Limited Partner" or QDLP this summer. This pilot program, according to law firm Kaye Scholer LLP, is to allow foreign asset managers to set up wholly owned subsidiaries in China to raise RMB (renminbi) funds through private placement for investment in international capital markets.

This program is still pending approval.

Clark Song, Managing Director of the recently-launched Shanghai Hedge Fund Association, today reports that sources had said the Financial Services Office of Shanghai (FSO) had applied around $3-5 billion for the QDLP program.

"FSO talked with several global hedge funds about the practice of QDLP recently," he further explains. "According to the proposal, fund managers which get QDLP licenses should register local entities in Shanghai. Those funds could use these local entities to transfer RMB money to USD, and then invest in overseas market."

Song adds that the minimum investment for Chinese investors to buy global hedge funds is RMB 10 million (CNY10m today is $1.6m).

This is the limit in the first round, he says, and the FSO will app......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Big hedge funds win again on PetSmart, Riverbed, RBS sells real estate loans to hedge fund Cerberus, Talisman energy speculation: Which hedge funds could benefit?[more]

    Big hedge funds win again on PetSmart, Riverbed From CNBC.com: Another week, another set of wins for activist investors. On Sunday, pet supply retailer PetSmart agreed to the largest leveraged buyout of the year at $8.7 billion. Hedge fund firm JANA Partners had been pushing for a sale a

  2. Outlook - Hedge fund manager who remembers 1998 rout says prepare for pain, Bond guru Bill Gross predicts U.S. economic growth to dip to 2%[more]

    Hedge fund manager who remembers 1998 rout says prepare for pain From Bloomberg.com: Stephen Jen landed in Hong Kong in early January 1997 as Morgan Stanley’s newly minted exchange-rate strategist for Asia. He was soon working around the clock when investors began targeting the region’s

  3. Investing - Hedge funds get boost from healthcare in 2014, Paulson & Co takes stake in Salix on heels of inventory issues[more]

    Hedge funds get boost from healthcare in 2014 From Valuewalk.com: The healthcare sector started the year on a turbulent note, as stocks of many major biotechnology companies were battered. However, most of the players in this sector have bounced back. The BarclayHedge Healthcare & Biotec

  4. Opalesque Exclusive: U.S. legal receivables fund launched in August[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Investing in asset-backed receivables is a strategy that has been an integral part of the alternative investment space within the overall fixed income asset c

  5. Comment - High fees and low performance hit hedge funds[more]

    From FT.com: Disenchantment over high fees and lackluster performance may finally be turning the tide against hedge funds, fresh data suggest. Despite generally weak returns since the global financial crisis, hedge funds have enjoyed positive net inflows every year since 2010. This helped assets und