Banking News
- Schroders fund JV to launch stock fund
Date: 31-Jul-2007 Sources: (Shenzhen Daily)
BANK of Communications Schroder Fund Management Co., jointly held by Bank of Communications and Schroders, said yesterday it will launch a stock fund Wednesday to raise up to 12 billion yuan (US$1.59 billion).
The fund will mainly invest in blue-chip stocks and aims to distribute dividends on a quarterly basis, it said in a statement. The fund must invest 60 to 95 percent of its proceeds in stocks, an article posted on the fund management company's Web site said, adding that blue chips with a solid dividend payment record must account for 80 percent of its stock portfolio.
Sponsor Results:
