Alfi expects mutual recognition deal for Ucits
Ucits product is likely to be part of the mutual recognition scheme within two years, says the head of the Luxembourg funds association, despite a previous attempt to join being rejected by China.
The lobbyist for Luxembourg’s funds industry is confident Ucits product will be permitted into the pending mutual recognition scheme, despite having been rejected once already by China’s securities regulator.
Marc Saluzzi, head of the Association of Luxembourg Funds Industry (Alfi), admitted over lunch last week that the China Securities Regulatory Commission (CSRC) had dismissed a former application to allow Ucits into the Hong Kong-China scheme.
Yet he expressed confidence tha…
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