Mutual funds make beeline to ChiNext
By Li Xiang | China Daily | Updated: 2009-10-30 08:10
Chinese mutual fund companies have swarmed into the country's newly launched growth enterprise board, or ChiNext, eyeing potentially quick profits even as the mutual funds industry itself reported $8 billion in losses during the third quarter.
The 28 companies, which start trading today on ChiNext, have so far attracted investments from 217 mutual funds in the new share subscription process for institutional investors, according to data from Shanghai-based Wind Info.
Filmmaker Huayi Brothers and Aire Eye Hospital Group are the two most popular ChiNext-listed companies that have absorbed investments from 105 and 104 funds respectively.
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