GUANGZHOU (Fund China) – Tuesday ( May 6th ), Lion fund said that China Securities Regulatory Commission has approved the QDII qualification, and Lion fund is allowed to Start overseas investment.

The company which is headquartered in Shenzhen announced that the company achieved QDII qualification has cleared the obstacles of global asset management business.

Lion fund said in the bulletin he is preparing to introduce a new products in the QDII mechanism, but did not provide details. Up to the end of 2007, the asset of Lion fund is 75.89 billion yuan.

Since 2006, China started to award the QDII qualifications to China’s banking, fund management companies and insurance companies, allowing them to invest overseas securities within the scope of investment.

Analysts said, because of the impact of global stock market situation, some QDII fund companies have not yet launched QDII products. Because of the falling of global stock markets, the QDII funds first lauched were in poor performance in the fourth quarter last year and the first quarter of this year.

The data Provided by fund Morningstar company shows that the nets of QDII funds which are launched by the four companies last year have shrinked 19.5 percent to 27 percent.

QDII funds are lauched by: China Asset Management Co., Ltd, Harvest Fund Management Co., Ltd, China International Fund Management Co., Ltd, China Southern Fund Management Co., Ltd.

Copyright Fund China 2009.

You Might Like: