RQFII managers see brighter prospects in institutional market
Many funds initially targeted the retail market in Hong Kong to raise their brand recognition, but are now wising up to the fact that demand is high among institutional investors.
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Chinese asset managers say they are increasingly looking to target institutional investors in their RQFII fundraising efforts -- an acknowledgment that initial faith in the retail market was misplaced.
In January and February most Chinese fund management firms sought to use renminbi-denominated qualified foreign institutional investor (RQFII) products to tap the retail market in Hong Kong in a drive to build brand recognition.
Choy Peng-Wah, CEO of Harvest Global Investments, to…
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