Funds News
- First State Cinda launches fund
Date: 2-Mar-2007 Sources: (Shenzhen Daily)
SINO-AUSTRALIAN First State Cinda Fund Management Co. said Thursday it is launching a fund to raise 9 billion yuan (US$1.16 billion) for investment in stocks and bonds on the mainland.
The firm, based in Shenzhen, said in a prospectus that it planned to raise the money between March 5 and March 30 through the nationwide branches of China Construction Bank and a number of domestic brokerages. The open-ended mixed asset fund, one of several approved by regulators this year, aims to invest 60-95 percent of its proceeds into stocks and the remaining in bonds.
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