Funds News
- Closed-end funds may invest more in stocks
Date: 28-Dec-2006 Sources: (Shenzhen Daily)
THE securities regulator is considering a plan to let closed-end funds invest more in yuan-backed stocks, the Shanghai Daily reported yesterday, citing industry sources.
The maximum amount a closed-end fund can allocate to stocks will likely be raised to 95 percent of its assets from 80 percent currently, the report said. 'Several managers of closed-end funds are lobbying regulators to relax their stock investment limits and authorities are studying their proposals,'a Shanghai-based fund official was quoted as saying. 'It probably will take months to finalize the change.'
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