Chinese money market ETF lists on LSE
China Construction Bank International and Commerzbank together listed the first renminbi-denominated exchange traded fund on the London Stock Exchange on Wednesday, marking a milestone that will help develop the renminbi asset management industry in the United Kingdom.
The new ETF, called the CCBI RQFII Money Market UCITS ETF, will give European and other international investors access to the China Interbank Bond Market securities, which is otherwise not available due to China's capital account controls.
UCITS stands for Undertakings for Collective Investments in Transferable Securities. It provides a single European regulatory framework for an investment vehicle, which means it is possible to market the vehicle across the European Union without worrying which country it is domiciled in.
