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ICBC HK Subsidiary Founded

ICBC Credit Suisse Asset Management Co., Ltd. announced lately that ICBC Credit Suisse Asset Managgement (International) Company Limited. is licensed to Type 4 (Advising on Securities) and Type 9 (Asset management) under Securities and Futures Commission, and the HK subsidiary of ICBC has been formally founded.

So far, 13 mainland fund companies have set up subsidiaries in HK as approved by the China Securities Regulatory Commission, but ICBC is the first bank-owned fund company to set up a subsidiary outside of mainland China. After over 6 years of development, ICBCCS, as China’s largest bank-owned fund companies has constructed a domestic asset management platform with complete business types and product lines.

As China's first company to have owned 2 QDII funds, the company also owns 4 QDII special account portfolios. At present, the 2 QDII funds of the company are at the top of the list of similar funds. According to the latest data of Morningstar, the return rate of ICBCCS is ranked No. 1 among 5 comparable funds of the same type both in term of the past 3 years and the past 2 years, and ICBCCS Global Selective Equity Fund is ranked No. 2 among 9 comparable funds of the same type in the past year.

Insiders comment that the foundation of the ICBCCS HK subsidiary symbolizes the first step of ICBCCS towards internationalization, which is helpful for enhancing its ability of multinational asset management, expansion of international business and training of international investment talents. In the meanwhile, it is also provides powerful support for ICBCCS’s QDII business so that the company can better meet the demand of domestic clients to invest in overseas market and that of overseas investors to invest in China (including HKSAR).

ICBC Credit Suisse Asset Management (International) Company Limited.,Beijing ICP preparation 05063708