BlackRock First China Mutual Fund Raises $1.03 Billion from Chinese Investors in 5 Days
10th September 2021 | Hong Kong
BlackRock first China mutual fund had raised $1.03 billion (CNY 6.68 billion) from 111,000 Chinese investors in 5 days (30/8/21 to 3/9/21). The BlackRock China New Horizon Mixed Securities Investment Fund was launched on 30th August 2021 and stopped taking new subscription on 3rd September 2021, after only 5 working days instead of the planned launch for 2 weeks.
“ BlackRock First China Mutual Fund Raises $1.03 Billion from Chinese Investors in 5 Days “
BlackRock into China
BlackRock is the world’s largest asset manager with $9.49 trillion AUM (Assets under Management). BlackRock China New Horizon Mixed Securities is the first fund launched by BlackRock’s wholly owned subsidiary in China.
In May 2021, BlackRock has also received approval for a wealth management license in China from the China Banking and Insurance Regulatory Commission (CBIRC). The joint venture in China will be named – BlackRock CCB Wealth Management.
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