China Life said to plan insurance fund this summer

Fund managers in Shanghai say The People’s Insurance Company of China, also known as China Life, is pushing to enter the asset management field and launch a so-called insurance fund before the end of summer. It is said to be trying to pip the launch of China’s first open-ended mutual fund, being prepared by Shanghai-based Huaan Fund Management and its offshore partner, JF Asset Management. The rumour mill in China is churning, and the lack of regulation allows for few certainties. The…