Luxembourg Fund Gets First Approval for Shanghai Stock Link
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Luxembourg, home to equity funds with about $1.2 trillion of assets, gave its first approval to trade through the Shanghai-Hong Kong exchange link as international investors seek greater access to Chinese shares.
Luxembourg’s financial regulator granted the authorization to a fund yesterday, Patrick Hommel, a member of the secretariat general at the Commission de Surveillance du Secteur Financier, said in an e-mailed reply to questions without naming the beneficiary. Funds domiciled in the country that aren’t yet invested in the Chinese market should refrain from using the link until they get regulatory approval, he said.