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Three Investment Funds to Merge
The China Securities Regulatory Commission has approved three investment funds launched in early 1990s to merge into a new securities investment fund known as Fund Hanbo upon approval of their holders.
Announcement was made here today by the three funds, namely, the Tongfa Investment Fund in northeast Shenyang city, the Zibo Township Enterprises Investment Fund, both listed on the Shanghai Stock Exchange, and the Three Gorges Investment Fund in southwest Chongqing city.
Issuance of the three funds totaled 200 million yuan. The new fund will be launched by the Haitong Securities Co., Ltd. and the Shandong Securities Co., Ltd.. It will be managed by the Beijing-based Fullgoal Fund Management Company and under the custody of the China Construction Bank.
Fund Hanbo is expected to be listed on the Shanghai bourse.
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