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Shenzhen Bourse to Introduce New Fund Index
The Shenzhen Stock Exchange will start the issuance of a new index to reflect changes in China's growing securities investment fund market as of July 3.
The new index will replace the former fund index that takes samples from the "old funds".
It is required by the Chinese regulators that all the "old funds" are transformed into standard securities investment funds by the end of this month.
So far, the work is going well, except for very few of them, which said they will finish the work by the end of July.
All the securities investment fund currently listed on the bourse will be taken as samples in the composition of the new index, while new funds will be taken into consideration as from the second trading day after their listings.
The new fund will have July 30 as the base day with 1,000 points as the index.
Early last month, the Shanghai Stock Exchange started the issuance of a similar index.
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