The Chinese arm of Deutsche Bank plans to launch a $4 billion global stock investment fund in October this year.
It will become the third foreign stock fund launched by a Chinese operation under the country’s Qualified Domestic Institutional Investor (QGII) programme. The programme aspires to abate the current pressure on Renminbi and this investment could raise up to $4 billion from Chinese investors.
Chinese Southern Fund Management Co. raised $4 billion for an overseas stock fund earlier in the month, and it proved popular as local investors wanted to diversify from China’s stock market despite it growing rapidly in the last few years.
However, investment targets have to take at least half of their revenue or profit from China.