Huaan Fund Management and China Asset Management, two of mainland China's leading fund houses, are preparing to launch exchange-traded funds this year. China's first exchange-traded fund, launched at the end of 2004 by Beijing-based China Asset Management, raised over Rmb5 billion $660 million during its initial offering period at a time when the A-share market was losing value and other equity funds were suffering redemptions.
Now ChinaAMC's rival Huaan Fund Management, based in Shanghai, will launch the country's second equity ETF this September, says Frank Yao Yuling, executive vice president and CIO at Huaan. China Construction Bank will serve as primary distributor.
The ChinaAMC...
