This Fund was China AMC first QDII fund products, Equity funds, intended to raise the scale of 40 billion dollars, will be on September 27 to open recruitment.

GUANGZHOU (Fund China) - China AMC Fund Management Company Ltd. on September 24 announced that its first QDII funds products - China AMC Global Selection Fund has been the China Securities Regulatory Commission (”CSRC”) approval, will be on September 27 to open recruitment.

According to prospectuses, the fund raising target size of 40 billion dollars, hosted by the CCB. The Fund for equity funds to invest in stocks and securities interests of the Fund’s assets ratio of not less than 60%.

Market speculation was another QDII qualified Harvest Fund Management Ltd also plans to issue its first QDII products - Harvest Overseas Chinese Equity Fund on the 28th. But Harvest companies to Qing Hong Marketing Planning Division on the 24th to the “Financial” said that until now, the product has not yet received approval of CSRC, expected to be approved under the near future, but on the 28th at basically no possible.

As of now, a total of seven fund companies received for QDII, respectively Hua’an Fund, China Southern Fund, China International Fund, Harvest Fund, Fortis Haitong and SGAM Fund. Hua’an Fund, China Southern Fund has released its QDII products.

Available in November 2006 of the Hua’an International Configuration Fund as a pilot the first QDII product from the SAFE to the quota of 500 million US dollars, but Hua’an Fund staff said, the actual purchase of about 200 million US dollars.

China Southern Fund Management Company on September 12, 2007 at its first QDII products - Southern Global Select Configuration Fund. Advance access to the fund two billion US dollars quota, but that on the first day of up to 49 billion yuan to the subscription, followed by additional foreign exchange for 2 billion US dollars quota, the total amount of the fund of 40 billion dollars.

China Southern Fund said its focus on selected markets in the developed markets for the United States, Japan, Hong Kong, Switzerland, Italy, and emerging markets in Russia, India, Brazil, Malaysia and South Korea. The Fund expects developed market index fund investment, investment in emerging markets index funds and active management of equity funds, direct investment in Hong Kong shares.

An industry said that, since August, the slowdown in the traditional fund products CSRC approval, but obviously has accelerated the approval of QDII products may wish to adopt QDII product circulation of the yuan flood mitigation issues, and moderate cooling the mainland stock market.

Copyright Fund China 2008.

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