Funds News
- BoCom plans US$400m QDII fund
Date: 6-Jun-2007 Sources: (Shenzhen Daily)
BANK of Communications (BoCom), China's fifth largest lender, plans to launch a fund under the country's Qualified Domestic Institutional Investor (QDII) scheme to raise more than US$400 million, a company executive said yesterday.
Liu Lizhi, deputy general manager of the company's retail banking department, said the bank will start raising money for the fund today and the sale is expected to be launched by July 10. Each investor must chip in an equivalent of at least 300,000 yuan (US$39,270) if they wish to subscribe to the fund, most of which will target Hong Kong-listed shares issued by medium and large-sized Chinese firms, he said on the sidelines of a ceremony for the planned fund.
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