BEIJING and HONG KONG, Dec. 18, 2015 /PRNewswire/ -- ICBC Credit Suisse China Core Value Mixed Fund ("the Fund") is today authorised by the Hong Kong Securities and Futures Commission ("HKSFC") [1] under the Mainland-Hong Kong Mutual Recognition of Funds ("MRF") Scheme. The Fund is managed by 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, and the leading asset manager in China with AUM of over RMB800 billion that celebrates its 10th anniversary this year.
This is among the first few that received approval since the launch of the MRF initiative in July this year. ICBC Credit Suisse Asset Management (International) (ICBCCS International) is appointed as the Hong Kong Representative.
"We are honoured to be among the first authorized under the MRF Scheme. The MRF is an important initiative that is instrumental to facilitating fund passporting not only between the Mainland and Hong Kong, but is also an important showcase for further development in the future," says Richard Tang, CEO of ICBCCS International.
"As a leading China asset manager, we are delighted to bring the full breadth of ICBC Credit Suisse's investment expertise and experience in China, and look forward to continuing to provide best-in-class China and RMB solutions to investors in Hong Kong and outside China".
The Fund is managed by ICBC Credit Suisse investment team in Beijing. The team consists of over 100 investment professionals dedicated to RMB and China investing, and has provided China onshore investment solutions to over 12 million institutional and retail clients.
Two days ago ICBC Credit Suisse S&P China 500 Index Fund, which is managed by ICBCCS International also received authorization by the Luxembourg regulator. It is the first UCITS product to access China via Luxembourg Renminbi Qualified Foreign Institutional Investor ("RQFII") program.
| [1] SFC authorization does not imply official 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 serving over 12 million institutional and retail clients, with RMB800 billion in assets under management as of end of November 2015.
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ICBC Credit Suisse Asset Management (International) Co. Ltd.
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