Northern Trust is offering a helping hand for specialist fund administration out of Beijing to help Asia Pacific investments go further.
Northern Trust is extending its services in China to take advantage of Shanghai’s pilot qualified domestic land partner (QDLP) programme. QDLP is a new vehicle for hedge funds that aim to engage in cross border business.
Based in Northern Trust’s Beijing office, the bank will work with hedge funds looking to take advantage of the QDLP programme, which will enable them to manage funds onshore and invest them abroad.
Michael Wu, country manager for Northern Trust, commented on the QDLP: “The Shanghai QDLP programme will offer attractive opportunities to international hedge funds and domestic players alike.”
Northern Trust will advise and guide hedge fund managers on investments using its market expertise and solutions.
Peter Sanchez, Northern Trust’s head fund services, said: “We are now able to support our hedge fund clients looking to take advantage of the new possibilities for investment offered by the Shanghai QDLP programme.”
Northern Trust has seven offices across the Asia Pacific. The Beijing office opened in 2010 following approval from the China Banking Regulatory Commission.
