Funds News
- ICBC raises US$585m in QDII fund
Date: 3-Jul-2007 Sources: (Shenzhen Daily)
INDUSTRIAL & Commercial Bank of China Ltd. (ICBC), the nation's biggest financial services company, raised 4.45 billion yuan (US$585 million) for the country's largest fund that allows local investors to buy securities abroad.
ICBC completed the sale of China's first equity fund under the qualified domestic institutional investor (QDII) program June 29, the Beijing-based bank said in a statement yesterday. It plans another fund specializing in stocks abroad this month.
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