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BOC plans to launch new QDII fund

(China Daily)
Updated: 2007-06-06 13:50

Bank of Communications plans to launch a fund under the qualified domestic institutional investors (QDII) program to raise more than $400 million. Liu Lizhi, deputy general manager of the bank's retail banking department, said it would start raising money for the fund today. The sale is expected to be launched by July 10. Each investor must contribute at least 300,000 yuan if they wish to subscribe to the fund, most of which will target Hong Kong-listed shares issued by large and medium-sized Chinese firms.