Shanghai Daily: Business - shanghaidaily.com
ICBC Credit Suisse Asset Management Ltd announced it will raise up to 22 billion yuan (US$2.87 billion) under the Qualified Domestic Institutional Investor scheme. The subscription period for the fund, named the China Opportunity Global Stock Fund, will run from January 3 to February 1. It includes both individual and institutional investors via all major banks and securities companies in the country. Thus far, only four QDII products exist - the JPMorgan Fund QDII, Harvest Overseas Fund, Huaxia Global Selected Stock Fund and Southern Global Enhanced Balanced Fund. Different from the first batch of QDII, the China Opportunity Global Stock Fund will focus on Chinese mainland listed companies in overseas markets and foreign companies that will benefit from China's economic growth. The QDII fund plans to allocate more than 60 percent of its assets in stocks, but will also invest in government bonds, repurchase agreements, stock index futures and derivatives.