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Mellon Financial to launch QDII products in China - report


Published : Tue, 15 May 2007 02:58
By : Agencies
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BEIJING (XFN-ASIA) - Mellon Financial Corp will soon launch joint venture products targeted at institutions participating in China's Qualified Domestic Institutional Investor (QDII) program, the official Shanghai Securities News reported, citing Mellon director for China Sun Haifeng.

Mellon's QDII products will be offered in cooperation with a local fund manager, the report said.

The QDII products require approval from the China Securities Regulatory Commission, Sun said.

Separately, Jiang Zhiping, Mellon director for Asia, said the company is in talks with a Chinese securities firm to set up a fund management joint venture, and an agreement is expected within the month, the report said.

allen.shu@xfn.com

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