4 Jul 2019 | Press Releases
The Asset Management Association of China (AMAC) and ALFI announced that a joint task force has completed its review of the PRC and European public fund regimes and reported its findings and conclusions to the governing body of each association.
The prime focus of the joint task force was to carry out a review of the rules applied in the People’s Republic of China (PRC) to publicly offered funds (open-ended) and the EU undertakings for collective investment in transferable securities (UCITS) under Luxembourg laws and regulations. Established in 1998, the PRC publicly offered fund market is growing at a phenomenal pace and reached RMB 12.76 trillion (USD 1.86 trillion) at 31 December 2018.
Lei Hong, Chairman of AMAC added that, as part of its work: “Our joint task force is proud to make a summary of applicable rules and regulations for publicly offered funds available online for our members in both Chinese and English”. A joint press release is available in English and Chinese.