The new Fund will be called BOC Global Strategic Fund (FOF) and is expected to launch in March 2011.
BOCIM is a joint venture fund management company between Bank of China and BlackRock.
BNY Mellon Asset Servicing Asia head Chong Jin Leow said the pace of QDII approvals is expected to continue in 2011. This is welcome news. With QDIIs outperforming domestic equity funds in 2010 for the first time since the financial crisis, thanks to an improving global economy, it is likely that more Chinese will seek to increase their international exposure via QDIIs in 2011.
BNY Mellon was awarded the very first global custody mandate for a QDII fund in 2007.
