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Following an announcement made by Luxembourg law firm Arendt Medernach, Ashmore Investment Management Limited (Ashmore) has received approval from the Luxembourg regulator (the CSSF) for the first Luxembourg R-QFII UCITS managed by a R-QFII manager based outside Greater China. Earlier this year, Ashmore became the first manager based outside Greater China to be granted a R-QFII license by the authorities of the Peoples Republic of China (PRC). In addition, Ashmore Luxembourg R-QFII UCITS has been authorised by the CSSF to invest, subject to final approval by the PRC authorities, directly up to 100% of its net assets in debt instruments traded on the China Interbank Bonds Market (the CIBM), which is unprecedented. This is an important milestone for the Luxembourg financial centre....
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