- Thursday 2010-03-04 17:33
Five fund management companies plan to start their Qualified Domestic Institutional Investor (QDII) business this week, reports Yangcheng Evening News.
The China Merchants QDII Global Resources Fund was launched on March 1. Equity investment will account for more than 60 percent of its assets. Eighty percent of its equity investment will go to listed resources companies, of which 70 percent are located in the US, UK and Australia.
China Universal Asset Management has established China Universal Asset Management (Hong Kong) with 100 million yuan during the Spring Festival to support the development of its QDII and Qualified Foreign Institutional Investor (QFII) businesses.
Fortis Haitong Investment Management has established Fortis Haitong Asset Management (Hong Kong) with a registered capital of HK$60 million to further explore the overseas market.
Guotai AMC obtained approved from the China Securities Regulatory Commission to set up the first overseas index fund, Guotai Nasdaq 100 Index Fund.
HuaAn Funds has started preparatory work to launch the QDII special account services on March 1.
