Funds News
- AXA venture eyes US$1.32b fund
Date: 30-Aug-2007 Sources: (Shenzhen Daily)
THE Chinese fund management joint venture of AXA said yesterday it plans to launch its first mutual fund to help individuals invest in the country's stock markets by the end of this year.
The company did not say how much it plans to raise through its first fund product. A source familiar with the situation said that it expects to raise about 10 billion yuan (US$1.32 billion) by selling the stock-focused mutual fund. The source declined to provide a precise timetable as the plan to launch the stock fund had yet to be approved by the China Securities Regulatory Commission.
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