“We plan to develop and introduce more innovative products that invest in China onshore securities...”
MUNIRAH KHAIRUDDIN CIMB-Principal Asset Management Bhd CEO
KUALA LUMPUR: CIMB-Principal Asset Management Bhd is the first asset management company in Malaysia to obtain the Renminbi Qualified Foreign Institutional Investor (RQFII) licence awarded by the China Securities Regulatory Commission (CSRC) recently.
CIMB-Principal chief executive officer (CEO) Munirah Khairuddin said in a statement that with the RQFII licence, it would have direct access to China’s capital markets and products, such as the A-shares and bonds of Chinese entities.
“We plan to introduce more innovative products that invest in China onshore securities as well as diversify some existing investment portfolios directly into China’s onshore equities and fixedincome securities,” she said.
CIMB-Principal has appointed HSBC (Malaysia) Trustee Bhd as its trustee, Hongkong and Shanghai Banking Corp Ltd as global custodian and HSBC Bank (China) Co Ltd as its China RQFII custodian.
HSBC Malaysia CEO Mukhtar Hussain said the size of the RQFII quota granted to Malaysia was further evidence of China’s commitment in granting investors greater access to its markets.
“We are confident this will be the first of many investments flowing through the ChinaMalaysia business corridor.”
In November 2015, China extended the RQFII programme to Malaysia with an initial quota of 50 billion yuan (RM32 billion), making Malaysia the 14th overseas jurisdiction to be included in the programme.