Australian-based global investment manager, QIC, in partnership with Ping An Asset Management Company (PAAMC), today announced the official approval of the QIC Ping An China Corporate Bond Fund (the Fund) at a ceremony in Shanghai.
The aim of the Fund is to give global investors the opportunity to participate in the growth of the Chinese economy by investing in China’s bond market - the second largest in the world and growing rapidly.
According to QIC, Chinese bonds are now an important part of global mainstream fixed interest indices, and the market is continuing to grow as a result of domestic and foreign capital inflows. Global investors are increasingly attracted to Chinese bonds as an effective way of accessing the China growth story, while at the same time benefitting from strong yields and portfolio diversification which accompanies investment in a country which has different fiscal and monetary cycles to developed markets.
Commenting on the partnership, Deputy Queensland Premier, Jackie Trad said, “The establishment of the QIC Ping An China Corporate Bond Fund is a significant development for both China and Queensland and is a great demonstration of a Queensland institution taking the global lead in financial services at home and overseas.
“The Chinese Bond Market is the second largest in the world, but foreign participation is still relatively low. The QIC Ping An China Corporate Bond Fund aims to close the gap by offering Australian and global investors access to the opportunities on offer in this exciting market, via a strong partnership between two trusted financial institutions.”
QIC Chief Executive Officer, Damien Frawley said, “China has long been an important market for QIC. Growth in Chinese domestic investment capital and increased capital mobility between China and other countries continues to create exciting new opportunities - and we feel very fortunate to be partnering with PAAMC, a like-minded, forward-thinking company with complementary investment capabilities - but with the same client focus.
“We are one of the first Australian investment managers to establish this type of investment offering – and are looking forward to offering our investors access to a bond market with historically stronger yields and better diversification benefits than those on offer in many other bond markets around the world,” he said.
PAAMC Chairman, Jack Wan said, said, “The QIC Ping An China Corporate Bond Fund is a milestone product and we are honoured to work with QIC. We believe this fund will attract more global investors to China's financial markets and help promote and further China's participation in international capital markets.
“In the future, we hope to deepen our cooperation with QIC to create more high-quality products together to meet market trends and client needs,” he said.
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About QIC
QIC is a global diversified alternative investment firm offering infrastructure, real estate, private equity, liquid strategies and multi-asset investments. It is one of Australia’s largest institutional managers and with more than A$801 billion under management, has a proven track record in sourcing and managing complex investments. QIC has over 1000 employees and serves more than 110 clients including governments, pension plans, sovereign wealth funds and insurers, spanning Australia, Europe, Asia, Middle East and the US. Headquartered in Brisbane, Australia, QIC also has offices in New York, San Francisco, Los Angeles, London, Sydney, and Melbourne.
About PAAMC
Ping An Asset Management Company (PAAMC) was established in 2005 in Shanghai. It is the second largest asset management company in China, managing over RMB 3 trillion of assets (approx. AUD 600bn). It is one of the most influential institutional investors in the Chinese domestic market. Ping An Asset Management Company (“PAAMC”) is one of the key members of Ping An Group. PAAMC is a leading asset management solution provider for sovereign wealth funds, national superannuation funds, insurance companies, commercial banks and other institutional investors. PAAMC’s cross-market investment management capabilities span fixed-income, stocks, fund and non-capital market along with remarkable asset allocation, investment, professional company structure and dedicated talents, comprehensive platform advantages.
IMPORTANT INFORMATION
QIC Limited ACN 130 539 123 (“QIC”) is a wholesale funds manager and its products and services are not directly available to retail clients. QIC is a company government owned corporation constituted under the Queensland Investment Corporation Act 1991 (Qld). QIC is regulated by State Government legislation pertaining to government owned corporations in addition to the Corporations Act 2001 (Cth) (“Corporations Act”). QIC does not hold an Australian Financial Services (“AFS”) licence and certain provisions (including the financial product disclosure provisions) of the Corporations Act do not apply to QIC. A wholly owned subsidiary of QIC has been issued with an AFS licence and is required to comply with the Corporations Act. QIC also has wholly owned subsidiaries authorised, registered or licensed by the United Kingdom Financial Conduct Authority (“FCA”), United States Securities and Exchange Commission (“SEC”) and the Korean Financial Services Commission.
Important information for Hong Kong: WARNING. No invitation to offer, or offer for, or sale of, the units in the Fund will be made to the public in Hong Kong. The contents of this document have not been reviewed by any regulatory authority in Hong Kong. You are advised to exercise caution in relation to any offer. If you are in any doubt about any of the contents of this document, you should obtain independent professional advice. The Fund is a collective investment scheme but is not authorised under Section 104 of the Securities and Futures Ordinance of Hong Kong by the Securities and Futures Commission of Hong Kong. Accordingly the placement of units in Hong Kong is restricted.
Important information for Singapore: No invitation to offer, or offer for, or sale of, the units in the Fund will be made to the public in Singapore. The Fund has not been registered with the Monetary Authority of Singapore. Accordingly, any documents or material in connection with any offer or sale, or invitation for subscription or purchase, of units may not be circulated or distributed, nor may units be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Singapore other than (i) to an institutional investor pursuant to Section 304 of the Securities and Futures Act, Chapter 289 of Singapore (the “SFA”) or (ii) otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA.
1 As at 30 June 2019
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The statements and any opinions in this document (the “Information”) are for commentary purposes only and do not take into account any investor’s personal, financial or tax objectives, situation or needs. The Information is not intended to constitute personal legal or investment advice and it does not constitute, and should not be construed as, an offer to sell or solicitation of an offer to buy, securities or any other investment, investment management or advisory services. Past performance is not a reliable indicator of future performance.
Important information for China: No invitation to offer, or offer for, or sale of, the units in the Fund will be made to the public in China (which, for such purposes, does not include the Hong Kong Special Administrative Region, Macau Special Administrative Region or Chinese Taipei) or by any means that would be deemed public under the laws and regulations of China. Any information contained or incorporated in this document relating to the units in the Fund has not been and will not be submitted to, approved by, verified by, or registered with any relevant governmental authorities in China. The units in the Fund may only be offered or sold to experienced and professional Chinese investors who are capable of identifying and tolerating the risks and who will consult their advisers and take all relevant factors into account before making an investment. The units in the Fund may only be offered or sold to Chinese investors who are authorized to buy and sell the units of the type being offered or sold. Potential investors resident in China are responsible for obtaining all relevant approvals, verifications and licenses from, and registration with, the relevant Chinese government authorities, and complying with all relevant Chinese laws and regulations.