• First RQFII License Awarded to an Asset Manager in the U.S.A.
• Expands BlackRock’s Investment Capabilities in China
Hong Kong December 15, 2016 – BlackRock, Inc. (NYSE: BLK), has been awarded its first Renminbi Qualified Foreign Institutional Investor (RQFII) license in the United States by the China Securities Regulatory Commission (CSRC). This is the first RQFII license awarded to any asset manager in the U.S. and the fourth RQFII license awarded to BlackRock.
The license has been granted to BlackRock Fund Advisors, a U.S. subsidiary of BlackRock, Inc., to invest in mainland China’s domestic capital markets, including the A-share stock and onshore bond markets. Certain BlackRock-managed funds can now apply for investment quota under the license from the State Administration of Foreign Exchange (SAFE), including iShares ETFs.
Ryan Stork, Chairman, Asia Pacific said:
“As a leader in cross-border investment, we welcome the decision made by the Chinese government to further expand and encourage international investors’ participation in its domestic capital markets. China is an important market for our clients globally and will only grow in importance as it continues to transform and internationalize its capital markets. The ongoing progress helps investors access one of the most important investment destinations in the world. BlackRock supports such progress and looks forward to future developments.”
Mark Wiedman, Global Head of iShares and Index Investing said:
“The first US RQFII license is a milestone for BlackRock and our iShares ETFs. We move closer to our goal of offering direct Chinese stock and bond exposure in iShares to clients anywhere in the world.”
Including the most recent award by CSRC, BlackRock holds the following licenses and quotas for its respective subsidiaries:
QFII
• BlackRock Institutional Trust Company N.A., US$250 million
• BlackRock Asset Management North Asia Limited, US$1 billion
RQFII
• BlackRock Fund Advisors (No investment quota yet awarded)
• BlackRock (Singapore) Limited, RMB20 billion (US$3.04 billion)
• BlackRock Asset Management North Asia Limited, RMB2 billion (US$304 million)
• BlackRock Advisors (UK) Limited, RMB2.1 billion (US$319 million)
Ends
About BlackRock
BlackRock is one of the global leaders in investment management, risk management and advisory services for institutional and retail clients. At September 30, 2016, BlackRock’s AUM was $5.1 trillion. BlackRock helps clients around the world meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares® (exchange-traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. As of September 30, 2016, the firm had approximately 13,000 employees in 30 countries and a major presence in global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information: For Hong Kong media, please visit www.blackrock.com/hk or Twitter: @BlackRockHK.
Media Contact:
BlackRock
Anthony Arthur: +852 3903 2915
Cynthia Ng: +852 3903 2553
