BNY Mellon Asset Management announces landmark deal in China

BNY Mellon Asset Management, the asset management arm of The Bank of New York Mellon Corporation, has received approval from the China Securities Regulatory Commission (CSRC) to provide sub-advisory services in relation to a QDII mandate for Chinese investors. The mandate will be sub-advised on behalf of China Southern Fund Management Co.Ltd, a domestic Chinese asset management company.

The Qualified Domestic Institutional Investor (QDII) program allows Chinese investors to access foreign fund management capabilities.