China’s CSRC approves nine funds in October
01 November 2013
Category: News, Asia, China, Global
By Asia Asset Management
The China Securities Regulatory Commission (CSRC) announced on October 28 that it has granted approvals for nine mutual funds in October. Meanwhile, it is proceeding with applications for another 108 fund products.
Four of the new mutual funds were approved via the innovative product express route – an express channel that cuts the duration of the approval process to around three-and-a-half months. The four funds comprise: the Harvest Absolute Return Hybrid Fund, the Franklin Templeton Sealand Grade Bond Fund, the Fullgoal One-Year Pure Bond Fund, and the Soochow CSI Convertible Grade Bond Index Fund.
Following a decision from the CSRC to expedite its approval process this year, it has accepted the applications for a total of 378 mutual funds up to end-October, translating into an average of 8.79 funds per week.