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Australia's AMP to close China growth fund offer Friday after strong interest

SYDNEY XFN-ASIA - AMP Capital Investors, which has over 100 bln aud under management, said its China Growth Fund offering will close on Friday following strong interest from investors across Australia.

SYDNEY XFN-ASIA - AMP Capital Investors, which has over 100 bln aud under management, said its China Growth Fund offering will close on Friday following strong interest from investors across Australia. It said the fund will primarily focus on investing in China A shares listed on the Shanghai and Shenzhen stock exchanges. AMP Capital Investors director for Asia investments Kevin Talbot said it is first time Australian retail investors have been given the opportunity to access China A shares via an Australian fund listed on the Australian Stock Exchange. Trading in China A shares is only available to domestic investors within China, companies which have been granted a Qualified Foreign Institutional Investor QFII licence by the China Securities Regulatory Commission CSRC and approved foreign investors under the Strategic Investment Scheme. AMP Capital is currently the only Australian company to hold a QFII license. Under the license AMP Capital has approval to invest a quota of up to 200 mln usd in China A shares and exchange-traded bonds. The fund's initial public offer has been underwritten to the value of 247 mln aud by the joint lead managers - AMP Capital Investors, Macquarie Equity Capital Markets Ltd and UBS AG. AMP Life will invest in the IPO for up to 100 mln aud but not less than 70 mln aud.

1 usd = 1.27 aud

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