Lion Fund Management is seeking to raise about $500 million to invest overseas in energy-related products, including ETFs backed by oil and gas, Bloomberg reports. The fund will be available from August 29 and target to “defeat inflation”, said Lion CEO Ao Chengwen. The firm has been given permission to launch the fund under China’s qualified domestic institutional investors program that allows Chinese investors to purchase overseas financial assets. Lion, which also manages a fund that invests in gold, has a total allocation of $2 billion for overseas investments.
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