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)
