HSBC facilitates first onshore private fund investment in China

HSBC has facilitated the first onshore private fund investment via the Qualified Foreign Institutional Investors and RMB Qualified Foreign Institutional Investors (QFII/RQFII) scheme in mainland China. HSBC is the custodian, providing services including investment scope update filing, payments, and custody for this market-first transaction completed by Baring Asset Management Limited. The fund is the first private fixed income fund launched by Barings Investment Management (Shanghai) Limited, Baring‘s wholly foreign-owned enterprise (WFOE) with a private fund management license (PFM) in mainland China.