Opalesque Industry Update - The Luxembourg regulator CSSF has authorised the first RQFII fund under the UCITS scheme. The UCITS can invest 100% of its net assets in China A-shares. It can invest in these shares through the use of the RQFII quota granted to its manager by the competent Chinese authorities.|
The new development coincides with the release of the new figures underlining Luxembourg’s leading position as a European RMB centre. As of June 2013, 18 asset managers have established RMB funds in Luxembourg with a total of more than 220bn RMB of assets under management. With 56bn RMB in deposits and over 67bn RMB in loans in Q3 2013, Luxembourg maintains its position as the financial centre with largest RMB business volumes in the Eurozone.