by swisscham in BFI
Industrial and Commercial Bank of China (Europe) S.A. (“ICBC (Europe)”) announced the authorization of ICBC Credit Suisse S&P China 500 Index Fund (“the Fund”) under the ICBC (Europe) UCITS SICAV umbrella, by the Luxembourg regulator Commission de Surveillance du Secteur Financier (“CSSF”). This marks the first UCITS product to access China via Luxembourg Renminbi Qualified Foreign Institutional Investor (“RQFII”) quota, shortly after ICBC (Europe) obtained its RQFII license in November and Luxembourg RQFII quota in December. ICBC Credit Suisse Asset Management International (“ICBCCS International”) will be manager of the Fund. Compared to other China indices, the S&P China 500 Index features enhanced sector diversification. It comprises 500 of the largest, most liquid Chinese companies while approximating the sector composition of the broader equity market. All Chinese share classes including A-shares and offshore listings in Hong Kong and the US are eligible for inclusion.