Funds News
- Fortune SGAM Fund wins QDII nod
Date: 28-Aug-2007 Sources: (Shenzhen Daily)
FORTUNE SGAM Fund Management Co., in which Societe Generale SA holds a 49 percent stake, said Sunday it has received approval from the securities regulator to invest overseas under the country's Qualified Domestic Institutional Investor (QDII) program.
The company said in a statement it has set out detailed strategic plans for its QDII business and picked up fund managers with overseas experience to manage its first QDII products. Fortune SGAM's other shareholder is China's Fortune Trust & Investment Co., which holds a 51 percent stake.
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