Citi China has signed an agreement with Bank of Communications Schroders Fund Management to be the first bank to distribute a multi-asset ‘northbound’ Mutual Recognition of Funds (MRF).
The Schroder Asian Asset Income Fund is the only multi-asset fund among all the ‘northbound’ MRFs approved by China’s securities regulator.
“With China’s strong support for initiatives like Belt and Road and economic globalisation, more and more clients are looking to expand their investment horizon and to realise their investment goals via global, diversified asset allocation,” said Max Xu, head of retail banking and distribution, Citi China.
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