By Jason Corcoran
Ashmore Investment Management, the specialist emerging markets investment manager, has today been granted a license by the Chinese financial regulator to access their domestic funds markets.
The QFII licence and its pending quota permit Ashmore to invest in domestic Chinese securities across a range of underlying asset classes, listed on the Shanghai and Shenzhen exchanges.
Jerome Booth, head of research at Ashmore said: "The licence is part of our strategy to develop our investment capabilities in the Chinese domestic market and is an important step in our long-term commitment to expanding our presence in the region.
EmergingMarkets.me recently revealed that Ashmore is also opening a sale office in Japan and is scouting for staff for a Moscow operation, which may open by the end of this year or early next year.
Ashmore, which manages about $31bn, last year opened operations in Brazil and Turkey in a bid to increase its local presence in emerging markets, to raise more capital and to add more country-focused funds.
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