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Alwyn Li was recently quoted in Asia Asset Management discussing how the A-share market’s wild run will not make a dent in the launch of southbound products.
“Deacons has been appointed to submit applications for ten southbound funds from leading Chinese fund managers or Sino-foreign asset management JVs at [the] inception of the MRF,” he said. “Chinese managers’ responses (towards the MRF scheme) remains overwhelming regardless [of] the stock market’s roller-coaster ride,” he concluded.
Alwyn noted that the Chinese government has to press ahead with the opening up of its capital account over the longer term to pave the way for RMB internationalisation, despite the A-share market turmoil. He anticipates the first batch of southbound funds will come online as early as the third quarter.
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