The fund is supervised by the Commission de Surveillance du Secteur Financier (CSSF), the Luxembourg financial regulatory authority, as a specialized investment fund (SIF). The fund has been established with several sub-funds offering a wide variety of investment strategies for CMB global private banking clients.
CMB operates the largest private bank in China. Its Private Banking’s assets under management (AuM) have recently exceeded two trillion yuan (US$ 292.79 billion). CMB is now one of the top 10 Global Private Wealth Managers in terms of AuM.
The deal marks the first time CMB has set up a Luxembourg-domiciled investment fund for its private banking clients to invest in global markets, and signals that leading Chinese banks are following their high net worth clients to go global and are playing a more active role to provide their clients tailor-made financial products.
Advisor to China Merchants Bank:
GSK Stockmann (Luxembourg): Marcus Peter, Arne Bolch (Partners, Investment funds); Yi Wang, Irina Stoliarova (Associates, Investment funds).