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ICBC Credit Suisse Receives Authorization of Second Southbound Fund Under Mainland-Hong Kong Mutual Recognition of Funds Scheme

HONG KONG, Dec. 31, 2015 /PRNewswire/ -- ICBC Credit Suisse Asset Management ("ICBC Credit Suisse"), the asset management joint venture between the Industrial and Commercial Bank of China (ICBC) and Credit Suisse today announced that the ICBC Credit Suisse China Prudent Growth Mixed Fund ("the Prudent Growth Fund") is authorised by the Hong Kong Securities and Futures Commission ("HKSFC") [1] under the Mainland-Hong Kong Mutual Recognition of Funds ("MRF") Scheme.

This is the firm's second southbound fund approved under the MRF, after the ICBC Credit Suisse China Core Value Mixed Fund ("the Core Value Fund") was among the first batch of four MRF funds that received SFC authorization two weeks ago. ICBC Credit Suisse Asset Management (International) (ICBCCS International) is appointed as the Hong Kong Representative.

"We are delighted to be again among the second batch authorized under the MRF Scheme," says Richard Tang, CEO of ICBCCS International. "The two funds offer different strategies that cater for different investor risk appetite and investment style preferences. We shall continue to enhance our lineup of investment solutions, and provide best-in-class China and RMB solutions to investors".

[1]

SFC authorization does not imply SFC recommendation.

About ICBC Credit Suisse Asset Management

ICBC Credit Suisse Asset Management (ICBCCS) is the asset management joint venture between the Industrial and Commercial Bank of China (ICBC) and Credit Suisse, established in 2005. It is the leading China manager with over 500 people, including around 150 investment professionals focusing on China and RMB-based investment solutions, serving over 12 million institutional and retail clients. The firm has around RMB800 billion in assets under management as of end of November 2015.

Media Contact

ICBC Credit Suisse Asset Management (International) Co. Ltd.
+852-3975-3675
enquiries@icbccs.com.hk
www.icbccs.com.hk

Source: ICBC Credit Suisse Asset Management (International) Company Limited
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