New fund to be launched soon
Updated: 2007-12-10 15:21
UBS SDIC Fund Management Co Ltd announced that its seventh fund was recently given the green light by the China Securities Regulatory Commission, according to the Shanghai Securities News.
The new fund, the first approved by regulators to invest in the Chinese mainland capital market following a three-month halt, will be officially launched soon, said the company.
The new fund will both invest in bonds and subscribe for new shares. It will target low risk investment products, mainly fixed income securities products such as treasury bonds, financial bonds, corporate bonds, convertible bonds, and bank deposits.
Although the new UBS SDIC fund is a bond fund, it is causing investors to expect the launch of more new equity funds investing in the A-share market, said market analysts.
In the fourth quarter, net worth of equity funds shrunk considerably due to stock market fluctuations, while bond fund products performed well. The launch of the new bond fund will not only meet investor demand for low risk products portfolio but also satisfy thirst for new fund products on the market.
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