China FMC blazes trail for commodities futures
The joint venture between UBS and SDIC Trust has had a successful fundraising for its CTA fund, and other houses are tipped to follow suit.
The first fund firm to participate in China’s commodities futures market has raised Rmb200 million ($31 million) for its CTA fund, raising the prospect that other managers will follow suit.
UBS SDIC, a locally incorporated joint-venture between the Swiss bank and SDIC Trust, revealed yesterday that it had successfully raised the sum from segregated account clients.
It is now in the process of applying for trading codes at four futures exchanges: three commodity bourses in Shangh…
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