J.P. Morgan Asset Management announced Tuesday that it had received a 1 billion renminbi ($165.3 million) quota to invest offshore renminbi in China’s domestic stock and fixed-income markets.
J.P. Morgan Asset Management said in a news release that it got the largest investment quota ever issued to a foreign financial institution by China’s regulators under the Renminbi Qualified Foreign Institutional Investor program launched at the end of 2011.
The company said it is looking to launch an actively managed equity fund focused on China’s domestic market.
China’s domestic A-shares market valuations “are attractive and as active managers, we see many opportunities to generate alpha,” said Jed Laskowitz, CEO, Asia-Pacific at JPMAM, in the news release.
A JPMAM spokesman couldn’t be reached for comment.
