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Chinese Firms To Float Resource Funds

Chinese money managers are speeding up their plans to roll out funds investing in natural resources and precious metals overseas.

Chinese money managers are speeding up their plans to roll out funds investing in natural resources and precious metals overseas, Reuters reports. Nine money managers are seeking regulatory approval for launching the funds under the Qualified Domestic Institutional Investor (QDII) scheme.

Bank of Communications Schroders Fund Management and China International Fund Management, owned by JPMorgan, may unveil funds that invest in global natural resources. Fortune SG Fund Management, the fund venture of Societe Generale and Hua An Fund Management may float index funds that will invest in oil-related assets.

Click here for the story from Reuters.

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