Two China JVs get debut funds approved

Sitico and JPMorgan Fleming''s China Int''l and Everbright-Pru will launch their first funds amid a bear market.

Two Sino-foreign fund management joint ventures have received the go-ahead from Chinese authorities to launch their debut funds. But the timing does not look propitious for raising large amounts of assets.

China International Fund Management, a joint venture between Shanghai International Trust and Investment Sitico and JPMorgan Fleming Asset Management, has announced it will launch the CIFM China Advantage Fund - a balanced fund - in the near future, with China Construction Bank its main distributor and custodian.

Everbright-Prumerica Fund Management, a JV between Everbright Securities and Prumerica Financial, will introduce a quantitative fund said to be the first of its kind in China, according to...

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