First Luxembourg Management Company Acting for 3rd Party Funds Approved by CSRC as RQFII Licence Holder

Carne is the first third party management company in Luxembourg to receive a license from the CSRC (China Securities Regulatory Commission) under the RQFII scheme.

The Quota, currently under approval by the SAFE (State Administration of Foreign Exchange), will be used by ICBC Credit Suisse Asset Management (International) Company Limited for its first UCITS-compliant ETF fund distributed across Europe to provide European investors access to the Chinese Market. Luxembourg For Finance and the Association of the Luxembourg Fund Industry confirmed at the end of September 2015 after a period of intense consultation within the investment funds community in Luxembourg and with the Supervisory Authorities in mainland China that the Luxembourg quota could effectively be used by third party management companies.

Carne acted swiftly to apply for the license to demonstrate its commitment and to serve its growing client base with a focus on the Asian market.

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