E-Fund ETF raises $2.8 billion, as Bosera gets ETF approved
The trend in China towards passive investing bodes well for both asset managers' products.
China's E-Fund Management closed capital-raising for its Shenzhen 100 ETF feeder fund last Friday, having attracted a total of Rmb19 billion ($2.8 billion) in a month since October 28. Meanwhile, rival asset manager Bosera yesterday announced that it has received approval to launch a Shanghai mega-cap ETF and feeder fund.
As a result of the new inflows, E-Fund now ranks as the second-largest fund manager in China, with Bosera and Harvest dropping to third and fourth respectively, not…
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