huaan-and-lehman-launch-first-qdii-fund

Huaan and Lehman launch first QDII fund

For the first time, Chinese investors get access to a variety of asset classes û and the deal shows you donÆt need a JV to manage Chinese money.
August 22, 2006
Shanghai-based Huaan Fund Management has been given approval by the China Securities Regulatory Commission CSRC to launch the nationÆs first QDII fund, an open-ended mutual fund giving Chinese retail and institutional investors exposure to international assets.

Huaan partnered with Lehman Brothers for the project. Huaan will control the asset allocation while Lehman will manage the underlying funds, including existing pooled vehicles as well as customised accounts, says Frank Yao, CIO at Huaan.

ôWeÆre not just sending money to Lehman Brothers,ö Yao says. ôItÆs a joint effort.ö Both parties will cooperate to provide risk management and performance attribution, for example.

The Huaan International Balanced Fund will have the following allocations 20-70% to global fixed income, benchmarked...
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