The launch proceeded at a capped $4 billion in assets, having received $8 billion from Chinese investors. The QDII program enables Chinese investors to access foreign fund management capabilities.
“We are pleased with the success of our first asset management venture in China,” said Ronald P. O’Hanley, president and CEO of BNY Mellon Asset Management. “This launch is to date the largest with which we have been involved and we are looking forward to continuing the development of our Chinese business.”
A selection of BNY Mellon Asset Management investment subsidiaries are the sub-advisors to China Southern on this mandate, which gives global equity exposure with alpha generated from asset allocation, stock selection, and long only fund selection.