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CSRC Checks Open-End Fund Plans
China Securities Regulatory Commission (CSRC) is checking the open-end fund plans drawn up by six fund management companies and will select two of them to launch pilot projects on open-end funds, sources from the fund management companies said on Monday.
One of the sources told the Hong Kong-based China Securities Express that the six fund management companies are Southern, Penghua, Hua'an, Dacheng, Huaxia and Boshi.
A source from the other fund management company said as the open-end fund plans drawn up by the above mentioned fund management companies are only limited to how to operate the system and relate not much to the fund scales and the specific operational procedures and the relevant methods for the open-end fund pilot projects have yet been launched, there are many variables about the related details.
According to the previous official report, the promulgation of the methods for the open-end fund pilot projects is just like an arrow on the bowstring, and some people optimistically believe that the open-end funds will make debut in one month after the launch of the methods. (Panorama)
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