The China International Capital Corp (CICC) became the mainland's first brokerage house to launch a fund product under the Qualified Domestic Institutional Investor program on January 16. In the 36 days after its debut, the fund has collected 372 million yuan from 1,585 investors, according to its official website.
The figure is in sharp contract with the 20 to 30 billion yuan raised for the first batch of QDII products.
An official in charge of the management of broker assets said CICC figures might indicate that domestic investors have at last lost confidence in the overseas stock markets.
The high threshold of 100,000 for CICC's QDII product was another reason that deterred small and medium-sized investors, fund industry researchers said.
For more details, please read the full story in Chinese (http://www.morningpost.com.cn/article.asp?articleid=118873).
(China.org.cn March 3, 2008)
