Two newly-issued stock funds made a debut on Monday, raising 2.8
billion yuan in total, reflecting the strong-than-expected
purchasing enthusiasm of investors.
With an expected acquirement of four to six billion yuan in one
month, the Jianxin fund raised more than 1.3 billion yuan on Monday
alone. The Nanfangshengyuan fund raised 1.5 billion yuan compared
to its expectation of six to eight billion yuan in total.
Investors' fervor was beyond expectation, the companies
said.
According to the plans, investors can subscribe to Jianxin
between Feb, 18 to Mar. 17. The subscription period for
Nanfangshengyuan is from Feb. 18 to Mar. 18.
Chen Jian, manager of the Nangfangshengyuan fund, said
government regulations and supervision of the stock market had
proved effective. The company had great confidence in China's two
exchanges.
CCB Principal Asset Management's Jianxin fund and the
Nanfangshengyuan fund run by China Southern Fund Management Co.,
received regulatory approval on Feb. 1.
The openings mark an end to a five-month freeze on new funds, a
signal the government is to boost the falling domestic equity
market.
(Xinhua News Agency February 19, 2008)
