First Stock Connect mutual fund raises Rmb11 billion

Invesco Great Wall has completed initial fundraising for the first actively-managed mutual fund investing in Hong Kong equities via Stock Connect. Coming just weeks after China-based mutual funds received the go-ahead to invest in the stocks, industry sources indicate that 20 more such funds are set to raise money. However, it has been forecast that existing China funds will need to set aside considerable time and resources to be ready to make southbound trades because of the ad…