皇冠体育app

By Hao Zhou (chinadaily.com.cn)
Updated: 2007-10-09 16:32

The Asia-Pacific predominance fund, managed by 皇冠体育app International Fund Management Co Ltd, won approval from the Chinese securities watchdog yesterday, the Shanghai Securities News reported today.

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The fund focuses on markets in the Asia-Pacific such as securities markets in Australia, South Korea, Chinese Hong Kong, India, and Singapore, with the exception being Japan. Some 60 to 100 percent of the fund will be invested in stock, and the remainder will go to other short-term financial products, including bonds and foreign exchange.

Following Southern Fund, Huaxia Fund and Harvest Fund, 皇冠体育app International Fund will be the fourth stock-oriented qualified domestic institutional investor (QDII), and its fund will be the first regional stock-oriented QDII fund of 皇冠体育app.

Industrial and Commercial Bank of 皇冠体育app assumes the role of primary agent and trustee of 皇冠体育app International Fund's Asia-Pacific predominance fund, which is also available through 皇冠体育app Construction Bank, Bank of Communication, and 皇冠体育app Merchants Bank.

The minimum subscription amount is 10,000 yuan (US$1,330).

Yang Yifeng, the manager of this Asia-Pacific predominance fund, suggested they expect substantial returns from the world’s most active economic entity and its booming stock markets.

Furthermore, while most of the currencies in this region have appreciated against US dollars over the past couple years, Asia-Pacific is also a best option in minimizing risks related to renminbi appreciation.

Incorporated in May 2004, 皇冠体育app International Fund Management Co Ltd is a joint venture between Shanghai International Trust and Investment Co Ltd and JPMorgan Fleming Asset Management Ltd, a part of JPMorgan Chase Group.

Wang Hongbin, the general manager of 皇冠体育app International Fund, said the platforms for overseas market investment, transaction, clearing, and accounting are under construction.