Five new mutual funds worth a total of Rmb200 billion are believed to have been funded by the Chinese government to support the equity market after weeks of wild A-share price swings.
Tag : china merchants fund
China Merchants Fund aims to build a Hong Kong business organically or via acquisition in a drive to expand its international business, which makes up just 1% of assets overall.
The company will issue the product in January to gain broader emerging-market exposure via ADRs and GDRs listed in the US and UK, and Chinese stocks in Hong Kong.
Gao Yang takes over the role of Guy Uding, who is back with ING Investment Management as Asian head of special strategy.