SSE Introduces New Fund IndexThe Shanghai Stock Exchange (SSE) will soon introduce a SSE Fund Index to reflect changes in China's growing securities investment fund market.According to a bulletin of the SSE carried in the China Securities News, all 12 securities investment funds currently listed on the SSE will be taken as samples in the composition of the index. The SSE will be issuing mock SSE Fund Indices for four weeks, starting on May 9, the bulletin said. The SSE Fund Index will take the day of its formal issue as the basis day, on which the index will read 1,000 points. China now has two separate indices for the fund market, but the SSE Fund Index will be the first specially designed for officially recognized securities investment funds, also known as new funds in China. The country now has 24 securities investment funds listed on the Shenzhen and Shanghai stock exchanges, and the government plans to transform all the old investment funds launched in early 1990s into securities investment funds. |
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