PRC post office may sell mutual funds

China Merchants is in negotiations with the postal system to sell funds.

China Post, the vast postal network in China, is in discussions with China Merchants Fund Management in Shenzhen about the possibility of using the postal organization as a platform for selling mutual funds, accorrding to rival fund houses. CMFM officials declined to comment.

One rival executive says CMFM hopes to sell its funds via China Post as early as summer. It was not clear from discussions with Chinese fund houses whether other firms were also pitching the idea to China Post.

Although China's mutual fund industry is mushrooming, with now nearly 50 licensed providers and $20 billion of assets under management, it is endangered by a bottleneck in distribution. Around 90%...

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