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CN Tightens Retail Investors' Cross-border Investment, but HK Unaffected: Rumor
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China has tightened the mutual recognition of funds arrangements, restricting global fund managers from allocating capital for Chinese clients to certain locations, which may suppress capital inflows into popular markets like the US, Bloomberg quoted sources as saying. It is understood that the tightening of restrictions aims to protect retail investors flocking to the scheme since last year, and applies only to newly established funds. Regulators also verbally required that investments in any single country should not exceed 50% of the total fund amount, but Hong Kong is exempt from this restriction, sources added. There are also limits on the proportion of high-yield securities held in a fund, but the new rules do not apply to existing products. AASTOCKS Financial News Website: www.aastocks.com |
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