Three Mutual Funds to MergeThree mutual funds listed on the Shanghai Stock Exchange would merge into a new fund to be known as the Anrui Securities Investment Fund, according to announcements by managers of the funds in Beijing Friday.The merging has been approved by the China Securities Regulatory Commission as well as the funds owners' conference. The three original funds will be delisted as of July 14 to pave the way for the merger. On June 30, the three funds had a total net value of about 200 million yuan (US$24.1 million). The new Anrui fund would be managed by the Hua'an Fund Management Company and under the custody of the Industrial and Commercial Bank of China. It will be listed on the Shanghai Stock Exchange and may raise its shares at a proper time. |
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