China Universal completes Rmb9.1 billion surprise launch

It smells like 2007 again. There is no mistaking that investor sentiment in China is gaining strength, defying fund managers' calls for a correction from earlier rallies. Year-to-date, the Shanghai Composite Index has gained a solid 62% against a dismal 2.92% return on the MSCI World. The index started off at 1880.72 points on January 5, and has since risen to 3048.3 points (as at midday on July 2). China Universal Asset Management, a young Shanghai-based fund house founded in 2005,…