SHANGHAI/HONG KONG : Fidelity International said on Wednesday it raised 1.08 billion yuan ($156 million) for its first mutual fund product in China, the third-biggest launch of an equity fund since the start of 2022 in China's challenging market environment.But the fundraising underperforms many newly set
SHANGHAI/HONG KONG : Fidelity International said on Wednesday it raised 1.08 billion yuan for its first mutual fund product in China, the third-biggest launch of an equity fund since the start of 2022 in China's challenging market environment.
The successful launch of the fund"amidst the current macroeconomic environment and tentative investor sentiment" marks another important milestone for Fidelity International's China business, Rajeev Mittal, Managing Director, Asia Pacific ex-Japan, said in a statement. Helen Huang, head of Fidelity International's China mutual fund unit, said the asset manager has a long commitment to China, one of its most strategically important markets.
Another crucial factor is that the local team needs to operate with minimal interference from headquarters, Alexander said.
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