FYI: Three years after China’s stock market trauma, the speculative spirit is far from snuffed out.
The latest playground is mutual funds, where adoration is raining down on star managers with unprecedented force. A fund run by Aegon-Industrial Fund Management Co. raised the equivalent of $5 billion in one day this year, while another by Orient Securities Asset Management Co. was nine times oversubscribed 24 hours after being launched in November. An equity portfolio offered by E Fund Management Co. raised 4 billion yuan ($632 million) over just a day this month.
Regards,
Ted
https://www.bloomberg.com/news/articles/2018-03-19/the-superstar-china-fund-managers-luring-5-billion-a-day
