Oriental Securities Raised 1.53B Yuan Through Fund Launch

Oriental Securities raised a total of 1.533 billion yuan through the launch of the Dongfanghong No.5 Collective Assets Management Plan within a three-day period, reports China Securities Journal. Subscription to the fund started on January 28.

According to Chen Guangming, investment manager at Oriental Securities, the current stock market is undervalued. Chen estimates that stocks in the CSI 300 Index will post net profit growth of 25 percent in 2010.