BNP Paribas Investment Partners (BNPP IP), the asset management arm of BNP Paribas and a leading Emerging Markets Investment Manager has been granted a RMB Qualified Foreign Institutional Investor (RQFII) license by the China Securities Regulatory Commission (CSRC).
This makes BNPP IP one of the first players in France and the Eurozone to be granted this license by the CSRC.
The RQFII license will enable BNPP IP to provide its clients with access to the latest route to invest in China’s internationalising domestic capital markets, including A-shares and onshore bond markets, denominated in RMB. This will provide direct and straightforward access to the growing Chinese economy to its retail and institutional clients.
Since 2004 BNPP IP has provided its global clients with access to the Chinese market as one of the largest global QFII managers. Today, these clients show a strong appetite for investing in onshore markets including Chinese fixed income, which provides attractive yields for robust credit quality combined with the historically low volatility of the RMB which is expected to keep its long term appreciation trend. At the same time, institutional investors are structurally underweight the second largest economy worldwide and are now looking to fill this gap with the new investment opportunities that are being offered. With this license, BNPP IP takes a new step in offering further diverse investment solutions capturing new opportunities for its clients globally.
Commenting on the announcement, Ligia Torres, Head of Asia Pacific & Emerging Markets adds: “The French authorities were the first in the Eurozone to obtain the RQFII quota in March 2014. RMB Internationalisation is indeed rapidly developing and will continue to impact the global financial landscape in the coming years. Today, being granted one of the first RQFII licenses in the Eurozone, places us in an ideal position to further develop our client offer. BNPP IP has already a long-term presence and leadership position in Greater China which makes it a perfect partner for clients looking for Chinese exposure.”
BNPP IP has an unsurpassed footprint in Asia Pacific & Emerging Markets with a presence in 17 countries, encompassing Asia Pacific to Russia, Turkey and Latin America.
*Through BNP Paribas Asset Management SAS, a French-regulated entity of BNP Paribas Investment Partners.
About BNP Paribas Investment Partners
BNP Paribas Investment Partners is the dedicated, autonomous asset management arm of BNP Paribas Group. It offers the full range of asset management services to both institutional and retail clients around the world. A client-centric organisation, BNP Paribas Investment Partners is structured around three business lines: Institutional, Distribution and Asia Pacific & Emerging Markets. We have globally some 700 investment professionals (1), each specialising in a particular asset class or product type. Our total assets under management are EUR 497 billion(1). BNP Paribas Investment Partners is the 7th largest asset manager in Europe (2).
(1) Source: BNP Paribas Investment Partners, as of 30 June 2014, assets under management and advisory
(2) Source: BNP Paribas Investment Partners, as of 30 June 2014