BNP Paribas to launch ESG fund in China
Under this regime, the firm would be the first to introduce an ESG-related product to onshore clients
BNP Paribas Asset Management has announced that its wholly foreign-owned enterprise (WFOE), BNP Paribas Overseas Investment Fund Management (Shanghai) Co., Limited, has been granted a Qualified Domestic Limited Partner (QDLP) qualification. The Shanghai-based QDLP programme allows global asset managers to raise funds from domestic investors in China to buy overseas traditional and alternative assets such as equities and real estate investment trusts.
In line with the enhanced focus from Mainland investors towards sustainable investing; which can be attributed in part to increased validation of the approach from the Chinese government and industry organizations, BNP Paribas AM is the first global fund manager with a QDLP quota to offer a fund geared towards ESG investments.
Commenting on the firm’s QDLP qualification, Ligia Torres, BNP Paribas AM Asia-Pacific chief executive officer says, “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.”