View all newsletters
Have the short, sharp Spear's newsletter delivered to your inbox each week
  1. Wealth
May 14, 2009

EB: China allows mutual funds into WM market

By Spear's

SHANGHAI -(Dow Jones)- China is allowing mutual fund management companies to sell wealth-management products targeting multiple clients, effectively giving them access to China’s private wealth-management business, which has been dominated until now by trust companies and banks.

SHANGHAI -(Dow Jones)- China is allowing mutual fund management companies to sell wealth-management products targeting multiple clients, effectively giving them access to China’s private wealth-management business, which has been dominated until now by trust companies and banks.

The China Securities Regulatory Commission issued a guideline Tuesday saying mutual fund companies can raise funds from at least two investors for each private wealth-management product. Previously, it allowed fund companies to target their wealth-management products at only single investors.

Unlike mutual funds, fund raising for wealth-management products can’t be advertised through public channels such as in newspapers, on television or radio, or through other mass media, the CSRC said. But the products will be subject to few investment restrictions, such as their level of exposure to stocks.

To read the full story, visit easybourse.com
 

Content from our partners
Meet the females leading in the FTSE
A cut above: Charles Sanford on why HNW clients choose LGT Wealth Management
How the Thuso Group’s invaluable experience and expertise shaped the Spear’s Schools Index 2024

Select and enter your email address The short, sharp email newsletter from Spear’s
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network