It has taken its sweet time, but China’s qualified domestic limited partnership (QDLP) programme is finally taking shape.
On September 8, Pictet Asset Management got approval from the Asset Management Association of China (AMAC) to launch its first QDLP programme in Shanghai.
However, what is QDLP and is the rollout of a single fund – in this case the Pictet Special Situation Private Securities Fund No.1, managed via a local subsidiary by Pictet Group, an independent Geneva asset manager that oversees $274 billion for global clients – really a big deal?
Potted history
The answer to the second question is yes, but let’s start with a potted history of the scheme.
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