Luxembourg grants landmark launch of RQFII fund

Luxembourg has granted landmark approval for the first renminbi-denominated qualified foreign institutional investor ETF to be launched under the Ucits umbrella. The pioneers to launch it will be Deutsche Asset & Wealth Management and Chinese partner Harvest Global Investments. They will bring a Ucits version of db X-trackers’ Harvest China Fund, which listed in New York on November 6, as exclusively revealed by AsianInvestor. “We are seeking to list the ETF on every exchang…