Harvest appoints State Street for CNY hedging

State Street has been appointed by China’s Harvest Fund Management Co Ltd. to provide onshore CNY FX hedging services for their Qualified Domestic Institutional Investor (QDII) investment funds. State Street has a long-term partnership with Harvest, having provided the firm with a range of investment services since 2010.

State Street provides onshore CNY FX liquidity on spot, forwards and swaps through its Beijing FX trading desk. The bank offers FX services for offshore investors’ inbound investments via the Bond Connect, CIBM Direct and QFII channels, and onshore investors’ outbound investments via the QDII program.

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