Has the successful run of Sino-foreign mutual fund joint ventures hit a snag After four JVs rolled out products attracting record-breaking subscriptions, the latest offering, from Great Wall Invesco, failed to keep up. The result has the industry scratching its head to figure out if this was a one-off due to market conditions, or a problem intrinsic to the nascent industry.
The JV's debut involved an umbrella fund with equity, bond and cash components. Distributed by Bank of China, it raised $220 million during its launch period, which ended in October.
Compared to the fireworks earlier JVs produced, It was a damp squib, says a rival.