Bank: BOC plans to launch new QDII fund
(China Daily)
Updated: 2007-06-06 16:19
Bank
of Communications plans to launch a fund under the qualified domestic
institutional investors (QDII) program to raise more than $400 million. Liu Lizhi,
deputy general manager of the bank's retail banking department, said it would start raising money
for the fund today. The sale is expected to be launched by July 10. Each
investor must contribute at least 300,000 yuan if they wish to subscribe to the
fund, most of which will target Hong Kong-listed shares issued by large and
medium-sized Chinese firms.
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