PenghuaÆs A-share listed fund raises Rmb2 billion
Passive products are witnessing a good run in China this year, as investor appetite for actively managed funds remains lukewarm.
Shenzhen-based fund house Penghua Fund Management says it has raised Rmb2 billion ($293 million) for its new A-share fund listed on the Shenzhen Stock Exchange.
The fund is built on a Listed Open Fund (LOF) architecture, a model that combines the characteristics of both an open-ended and a closed-end fund, in a way that allows investors to trade the fund on an exchange, as well as engage in offline subscription and redemption with the issuing house. LOFs originally came about when Ch…
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