Wed, Jul 27, 2016
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. Opalesque Exclusive: California-based manager launches long/short equity hedge fund with unique algorithm[more]

    Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

  2. Manny Roman to move from Man to Pimco[more]

    Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

  3. HFR: Hedge funds post strong gains in mid-July as markets recover from Brexit losses[more]

    Komfie Manalo, Opalesque Asia: Hedge funds posted strong gains through mid-July as the equity markets continued the recovery from Brexit losses. The HFRX Market Directional Index gained +2.17% (+4.22% YTD) and the HFRX Global Hedge Fund Index gained +1.03% through mid-month (+0.19%

  4. News Briefs - Carlyle goes on trial for a financial-crisis meltdown, Private equity and venture capital outperformed public markets in 2015, Pippa Middleton gets engaged to hedge fund manager James Matthews[more]

    Carlyle goes on trial for a financial-crisis meltdown Carlyle Group co-founder Bill Conway was in court on this small island last week recounting one of the most bruising episodes in his private-equity firm’s history: the 2008 collapse of mortgage-bond fund Carlyle Capital Corp. Carlyle

  5. …And Finally - Two men fall off cliff playing Pokemon Go[more]

    From BizarreNews.com: Two men who fell from a seaside cliff north of San Diego told authorities they became distracted while playing augmented reality game Pokemon Go. Encinitas fire Battalion Chief Robbie Ford said one of the men fell about 50 feet down the bluff in Encinitas while the other man fe