BankingDST Global Solutions Prepares its China Fund Management Clients for RQFII Scheme

DST Global Solutions Prepares its China Fund Management Clients for RQFII Scheme

DST Global Solutions, a provider of software technology and services to the investment management industry, is helping its Chinese asset management clients prepare for participation in the recently launched RQFII scheme.

Last December, China launched a RQFII pilot scheme to accelerate renminbi (RMB) internationalisation and further facilitate the backflow of RMB. The RQFII guidelines were released in late 2011, with an initial investment quota of RMB20bn allocated to nine Chinese asset managers and 12 securities brokerages. In April 2012, China expanded its RQFII scheme by increasing the investment quota to RMB70bn.

Geoff Harries, global head of asset servicing, DST Global Solutions said: “With the launch of the RQFII scheme, our clients in the fund management industry require a solution that is designed to work in global markets as well as help them meet the requirements of the Chinese fund management industry. As a client-responsive organisation, DST Global Solutions is always on the lookout for upcoming changes in the industry and through its HiPortfolio solution has the flexibility to support our clients as they expand into RQFII products.”

A member of senior management at a major Chinese asset management firm using HiPortfolio said: “We have been using HiPortfolio since 2004 and have been impressed with the depth of its functionality and its ability to handle all our requirements including recording, valuation, accounting and reporting. DST Global Solutions has long been committed to China as evidenced by the way they have responded to our needs and the regular enhancements made to HiPortfolio over the years. We have been offering trustee services for RQFII products since earlier this year and are delighted that HiPortfolio has the adaptability to support this development.”

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