BNP Paribas Overseas Investment Fund Management (Shanghai), a wholly foreign-owned enterprise (WFOE) of BNP Paribas Asset Management, has received a Qualified Domestic Limited Partner (QDLP) qualification quota of $50m.
The QDLP programme enables asset managers to raise funds from Chinese investors and invest them in overseas traditional and alternative assets.
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The company aims to utilise the quota to introduce a fund focused on environmental, social and governance (ESG) investments.
BNP Paribas Asset Management Asia-Pacific CEO Ligia Torres said: “China is a key growth market for BNP Paribas.
“Through this programme, qualified high net worth and institutional investors in China seeking to diversify their investments across an expanding range of asset classes and geographies can now access our global expertise as an investment solutions provider.”
BNP Paribas has already been operating in China through its joint-venture HFT Investment Management.
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By GlobalDataIn September 2014, the firm secured RMB Qualified Foreign Institutional Investors licences in France and Eurozone. The firm set up the Shanghai WFOE in December of the same year.
