BEIJING (Fund China) - May 5 BEIJING: Reporter learn that Peng Hua Fund was formally approved by the China Securities Regulatory Commission, it was allowed to develop overseas securities investment management business, and QDII fund expand again.

The person of penghua fund pointed out that they get QDII qualify will enrich the product line, provide more diversify services to investors. At the same time, that is an important step for penghua enter the international market.

It is said that from the promulgation of the QDII approach to the end of the first quarter of 2008, the Commission had approved 19 fund management companies of QDII qualify, eight open QDII funds. There are five QDII funds have completed the collecton, up to 122.5 billion yuan.

QDII funds are mainly invested in the countries or areas that have signed bilateral memorandum on cooperation in supervision with China Securities Regulatory Commission. now, the United States, Canada, Brazil, Argentina, Hong Kong, Japan, South Korea, India, Britain, France, Luxembourg, Germany, Italy, Egypt, Australia, New Zealand and other 35 countries or regions have Signed the memorandum of understanding with China Securities Regulatory Commission.

The experts said that with the continuous expansion of product size and the gradual weakening of hypo-loan’s influence, QDII funds can open the way of global investment. Domestic invetors can realize asset allocation within global framework through QDII products, and realize diversified investment, which can reduce the risk of the investment, and share the fruits of economic growth.

As one of earliest fund companies of china, up to december 31, 2007, the asseet of penghua fund had reached 119.21 billion yuan. At present, Penghua is formed by eight open funds, two closed funds and five social security funds, covering equity fund, manage fund, currency fund and bond fund of the better product line.

Copyright Fund China 2008.

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