皇冠体育app

Economy

Markets

Industries

Insights

Reports

Events

Guotai Fund to launch Nasdaq-linked fund

(Agencies)
Updated: 2009-03-30 12:28

皇冠体育app's Guotai Asset Management Co has signed a licensing agreement with Nasdaq OMX Group Inc giving the fund manager exclusive rights to develop products in 皇冠体育app using the Nasdaq 100 Index, Guotai said on its website.

Related readings:  皇冠体育app Southern Fund, S&P to develop index products  Lenders answer to complaints from QDII investors  Banks' QDII funds suffer overseas losses  Foreign funds outperform in 皇冠体育app rally

Guotai is likely to launch a fund pegged to the Nasdaq 100 Index this year, which will help Chinese investors to diversify risks, the company said.

Chinese investors are allowed to invest abroad under the so-called qualified domestic institutional investor (QDII) scheme, which has channelled more than $40 billion of the country's estimated $2 trillion of household savings into overseas financial markets.

Earlier this month, the 皇冠体育app Securities Journal reported that 皇冠体育app Southern Fund Management Co had signed an agreement with US financial market data provider Standard & Poor's to jointly develop QDII products.

皇冠体育app Southern plans to launch funds that track the benchmark Standard & Poor's 500 stock index, giving mainland investors exposure to a range of US blue chips such as Microsoft Corp, Wal-mart Stores Inc and International Business Machines Corp, the newspaper said.