AMP Capital Investors plans to list a fund that provides access to China’s ‘Class A’ share market on the ASX by the end of this year.
Class A shares are those traded on the Shanghai and Shenzhen stock markets. The fund will seek to raise up to $330 million. AMP Capital Investors is the first Australian company to gain a Qualified Foreign Iinstitutional Investor (QFII) license and one of only 48 companies worldwide as at the end of September. AMP Capital has been given approval from China’s State Administration of Foreign Exchange (SAFE) to invest up to $US200 million directly into China A shares and bonds.
A managed investment scheme holding 20 per cent or more in unlisted assets is deemed an illiquid scheme and is restricted from providing frequent liquidity, but there is no formal limit on how much super funds can allocate to these asset classes. The Conexus Institute writes this is a special privilege given to APRA-regulated super funds that should not be taken for granted.
David Bell and Geoff WarrenFebruary 6, 2025