Principal readies QFII quota, targets HK build-out
The firm may apply for up to Rmb300 million to provide an A-share strategy in a QIF structure out of Dublin. It also plans to apply for a type-1 licence in Hong Kong, where it is eager to add resources.
Principal Global Investors is preparing to apply for a QFII quota with the goal of offering an A-share strategy to institutional clients globally via a qualified investor fund (QIF) out of Dublin.
The asset management arm of Principal Financial Group is also planning to apply to the Securities and Futures Commission for a type-1 licence to carry out equities trading in Hong Kong, AsianInvestor can confirm. It already holds type-4 and type-9 licences in the city.
It moves come as…
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