China JV closes funds to new subscriptions
Even as the CSRC ends its moratorium on new mutual funds, JPMorganÆs funds JV in Shanghai halts new subscriptions in the face of A-share mania.
Two Sino-foreign mutual fund joint-venture companies have closed equity funds to new subscribers for fear that the frenzy for A shares was going to burn new, ill-informed customers, as well as to protect fund performance.China International Fund Management (CIFM) and Invesco Great Wall Fund Management have closed their equity funds, although the latter has reportedly just opened its funds again. (Officials at Invesco Great Wall, a JV between Invesco and Shenzhen-based Great Wall Secur…
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