US$45 billion in mutual fund inflows forecast for China’s Nasdaq-style tech board
- Prediction made by Hu Lifeng, chief fund analyst for China Galaxy Securities
- 31 asset management funds have submitted applications for 43 mutual funds
The study comes as at least 31 Chinese asset management firms have submitted applications for 43 mutual funds to the securities watchdog, information available on the China Securities Regulatory Commission website showed on Monday.
Hu Lifeng, chief fund analyst for China Galaxy Securities, said in the research note that 100 billion yuan could come from newly established mutual funds, 100 billion yuan from existing stock positions in the market, and the rest from special funds dedicated for strategic IPO investing.
CSRC website show Wanjia Asset Management has four of its applications accepted followed by three each from China Asset Management, GF Funds, and China Southern Fund Management.
The tech board was first announced by Chinese President Xi Jinping in November and will pilot a registration-based system for initial public offerings, which has less stringent listing rules.
