Fund houses profit from ChinaÆs ôone-kuaiö NAV obsession

Fund management companies in China have embarked on a rash of fund splits and extraordinary dividend payments this year, largely in response to regulatory moves to limit inflows to new fund products.In the two months of the year, before the China Securities Regulatory Commission imposed quotas on fund ôIPOsö, fund splits were rare. January and February saw only four funds split into new units, which sees net asset values (the total fundÆs value divided by the number of units) decline.…