QFII, RQFII beneficial ownership clarified

China’s securities regulator has officially recognised that securities held by QFII and RQFII separate accounts belong to the clients of the fund managers running those accounts or mandates. The move, announced late on Friday, is part of Beijing's effort to smooth the way for the inclusion of mainland stocks in MSCI’s emerging-market benchmarks, ahead of the index provider’s annual review next month. The announcement also covered bonds held in accounts under the qualified forei…