Bank Julius Baer was awarded a QFII license by the China Banking Regulatory Commission (CSRC) in December 2010 and is still the only private bank to hold one, allowing its clients access to onshore equity and bond markets.
According to Julius Baer, to offer clients from around the world direct access to the growth of the domestic China market and to allow them to benefit from the internationalization of the RMB, it will launch a China Fund, now that the prerequisite license and quota are in place.
The fund intends to invest in A and H shares and will be managed by Julius Baer and advised by one or more specialist advisors, said the Swiss private bank.
Julius Baer head of Products Asia Pacific Kenneth Ho said until now, clients have had very limited direct access to this trend, since few China stocks have overseas listings -the bank can now offer clients a full range of products either directly from Julius Baer or from numerous external parties. This opens up increased opportunities for diversification and potentially attractive long-term returns.
In March 2011, Bank Julius Baer launched an expansion of its RMB product offering, adding RMB conversion services, savings and fixed deposit accounts, RMB-denominated unit trusts, currency linked investments and bonds.
