Taiwan fund managers to see little benefit from MoU
The much-anticipated China-Taiwan MoU has been signed, but Taiwanese fund houses have yet to meet basic requirements to apply for QFII status, or take up QDII portfolio adviser roles.
The long wait is over. After months of delays, an official memorandum of understanding (MoU) was at last signed this week by the China Securities Regulatory Commission and Taiwan's Financial Securities Commission.
The announcement was made with little fanfare in Beijing. The CSRC acknowledged the MoU with a two-paragraph notice on Tuesday, and the Chinese market expressed noted disinterest. Yet, across the strait, the announcement drove the Taiex to its latest high. Financial stocks …
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