BNP Paribas Investment Partners (BNPP IP), the asset management arm of BNP Paribas and a leading Emerging Markets Investment Manager, has been granted a RMB Qualified Foreign Institutional Investor (RQFII) license in Hong Kong by the China Securities Regulatory Commission for engaging in the Domestic Securities Investment Business. This follows the RQFII quota approval of Rmb3 billion its Paris office received recently – one of the first RQFII licenses granted in France and the Eurozone in mid-September.
The RQFII license will enable BNPP IP to provide its clients with access to invest in China’s internationalising domestic capital markets, including A-shares and onshore bond markets, denominated in RMB. This will provide direct and straightforward access to the growing Chinese economy to its retail and institutional clients.
Commenting on the announcement, Tino Moorrees, BNPP IP Hong Kong Chief Executive Officer, says:
“Having an RQFII licence will provide unprecedented opportunities to participate in China’s ongoing market growth. The attainment of the license in Hong Kong – which is the first for BNPP IP in Asia – is an integral component and key building block for our broader Greater China strategy; and a strong affirmation of our unrivalled footprint and continued commitment to work across borders, help connect businesses in Hong Kong to China’s capital markets. Ultimately, this provides us the ability to continue upholding our global investment capabilities in one of the region’s key growth market.”
BNPP IP has an unsurpassed footprint in Asia Pacific & Emerging Markets with a presence in 17 countries, encompassing Asia Pacific to Turkey and Latin America.
(1) Through BNP Paribas Asset Management SAS, a French-regulated entity of BNP Paribas Investment Partners.
About BNP Paribas Investment Partners
BNP Paribas Investment Partners is the dedicated, autonomous asset management business of BNP Paribas Group and offers the full range of asset management services to both institutional and retail clients around the world. A client-centric organisation, BNP Paribas Investment Partners is structured around three business lines: Institutional, Distribution and Asia Pacific & Emerging Markets. We have globally some 700 investment professionals (1) each specialising in a particular asset class or product type. Our total assets under management are EUR508 billion(1). BNP Paribas Investment Partners is the 7th largest asset manager in Europe (2).
(1) Source: BNP Paribas Investment Partners, as of 30 September 2014, assets under management and advisory
(2) Source: BNP Paribas Investment Partners, as of 30 September 2014