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New Mutual Fund Listed on Shanghai Bourse
A new mutual fund, the Jinding Securities Investment Fund was listed on the Shanghai Stock Exchange Friday, adding China's mutual funds to 29, with net assets worth 70 billion yuan.
Fund Jinding is the merger between Jianye, Shenyang Gongzhong and Shanjian Funds, with a total of 230 million fund units.
The closed-end fund is launched by the Guotai Jun'an Securities Co. and managed by the Guotai Fund Management Co..
According to its manager, the fund will be expanded to 500 million units after its listing. Its validity date will be extended by five years to the end of May 2007.
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