Caixin
Jan 23, 2024 05:10 AM
FINANCE

Harvest Fund Seeks Offshore Growth Amid China Rout

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(Bloomberg) — Harvest Fund Management Co. Ltd., one of China’s largest mutual fund managers, is seeking to capture rising demand for cross-border investments as the local stock market struggles with a prolonged decline and Chinese investors chase offshore assets with higher returns.

The company has almost depleted its $4.2 billion of quotas under the Qualified Domestic Institutional Investor program that allows locals to invest abroad and plans to work with partners that still have unused quotas and clients with offshore assets, according to Kevin Shu, chief marketing officer of Harvest Global Investments (HGI) Ltd., the Hong Kong-based international arm.

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