China AMC preps five ETFs for new channel

Seeking to take advantage of a new channel for so-called 'sponsored funds', China Asset Management is seeking approval for five exchange-traded funds. China's biggest asset management firm this week submitted to the securities regulator ETFs that will track Shanghai Stock Exchange indices, including consumer staples, materials, energy, financials, and real estate and healthcare. All five are sponsored funds, a new product allowed by the China Securities Regulatory Commission (CS…