Beijing granted US asset manager Neuberger Berman’s Chinese unit a licence on Friday allowing it to help domestic clients to invest overseas as the world’s second-largest economy signals broader financial opening.
China’s securities regulator said in a notice on Friday it had approved Neuberger Berman Fund Management (China) Co for a Qualified Domestic Institutional Investor (QDII) licence.
Neuberger Berman (China) became the second wholly foreign-owned fund manager to receive such qualification, after Beijing granted BlackRock a QDII licence in September.
Reuters
