DST Global Solutions Responds to Chinese Regulation
DST Global Solutions, a software provider to the investment management industry, has upgraded its asset-servicing solution in response to recently implemented regulations in the Chinese asset management space.
China's RMB Qualified Foreign Institutional Investor (RQFII) regulations were released in late 2011 in an attempt to accelerate internationalization of the Chinese currency and facilitate backflow, with RMB 20 billion allocated to nine Chinese asset managers and 12 securities brokerages.
In April 2012, the investment quota was increased to RMB 70 billion.
"With the launch of the RQFII scheme, our clients in the fund management industry require a solution that is designed to work in global markets as well as help them meet the requirements of the Chinese fund management industry," says Geoff Harries, global head of asset servicing at Surbiton, UK-based DST Global Solutions.
"HiPortfolio has the flexibility to support our clients as they expand into RQFII products."
China's RMB Qualified Foreign Institutional Investor (RQFII) regulations were released to accelerate internationalization of the currency and facilitate backflow.
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