Principal Global gets approval to invest in China

Principal Global Investors LLC, a leading global asset manager and a member of Principal Financial Group Inc., announced it has been awarded the Qualified Foreign Institutional Investor (QFII) designation by the China Securities Regulatory Commission. The designation allows the firm to invest in the local China A-share markets. “We are pleased to be able to offer clients this valuable opportunity to participate in the Chinese market,” said Jim McCaughan, CEO of Principal Global Investors. “The ability to directly invest in the second-largest economy in the world is a very attractive proposition for our clients.” The QFII license represents the next step in Principal’s ongoing involvement in China, an effort that dates back to 1994. In 2005, Principal established a joint venture with China Construction Bank, the second largest commercial bank in China. The joint venture, China Construction Bank-Principal Asset Management, manages both equity and fixed-income products for local clients.

Principal Global Investors LLC, a leading global asset manager and a member of Principal Financial Group Inc., announced it has been awarded the Qualified Foreign Institutional Investor (QFII) designation by the China Securities Regulatory Commission. The designation allows the firm to invest in the local China A-share markets. “We are pleased to be able to offer clients this valuable opportunity to participate in the Chinese market,” said Jim McCaughan, CEO of Principal Global Investors. “The ability to directly invest in the second-largest economy in the world is a very attractive proposition for our clients.” The QFII license represents the next step in Principal’s ongoing involvement in China, an effort that dates back to 1994. In 2005, Principal established a joint venture with China Construction Bank, the second largest commercial bank in China. The joint venture, China Construction Bank-Principal Asset Management, manages both equity and fixed-income products for local clients.