Taobao targets August for fund platform launch

China’s leading e-commerce website, Taobao, and fund managers are close to finalising a system to sell mutual funds online, says an executive in talks with the site who asked not to be named. The platform, which will allow Taobao users to buy mutual funds on their website, is scheduled to launch by the end of August, says the head of e-commerce at an asset manager. “Fund houses are now in the final stages of adjusting [the] system to facilitate online [fund] sales, as well as de…