Surpassing its investment advisor's expectations and a sure sign of Chinese investors’ increasing enthusiasm for the markets, a new fund from China Asset Management raised $1.8 billion in just two days, Reuters reports.
“Ordinary folks are crazy about stocks these days,” commented Li Yijun, regional manager at the company’s Shanghai branch. “The result really surprised us, especially given the fact that we did not put in much marketing effort.”
In the past month alone, investors have poured $5.1 billion into Chinese mutual funds, whereas in 2005, they invested nearly $13 billion. The inflows make sense, particularly in light of the fact that China’s benchmark index, the Shanghai, is up 77% this year.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.