First R-QFII manager based outside Greater China to obtain CSSF approval for a R-QFII UCITS-compliant product
Arendt & Medernach’s teams in Luxembourg, London and Hong Kong have advised Ashmore Investment Management throughout the process leading up to the approval by the Luxembourg regulator (CSSF) of 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 licence by the authorities of the People’s Republic of China (PRC). In addition, Ashmore’s Luxembourg R-QFII UCITS has been authorised by the CSSF to invest, subject to final approval by the PRC authorities, directly up to 100 per cent of its net assets in debt instruments traded on the China Interbank Bonds Market (CIBM), which is unprecedented…
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On 5 September 2014, the Luxembourg and French finance ministers signed a fourth amendment to the Luxembourg-France Double Tax Treaty dated 1 April 1958.