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Landmark China FundThe Blackrock China New Horizon Mixed Securities Investment Fund is Blackrock’s first mutual fund in China offered to retail investors and is also the country’s first run by a foreign fund management company (FMC). The regulator posted its decision on its website late on Friday.
“The fund takes an investment approach that considers global macro views and the evolution of economies, and focuses on five growth sectors, including new energy, mass consumption, digital transformation, retirement, and industrial innovation and upgrade,” Alex Tang, portfolio manager of the fund, told FSA.
The fundraising by the world's biggest asset manager is being closely watched as more global players prepare to enter China's fast-growing, but highly competitive mutual fund market.