China’s ill-fated first QDII fund to repay principal in full
Hua An prepares to pay back investors after settling a dispute with the bankrupt Lehman Brothers. It was an unfortunate start to a government project that still fails to convince.
China’s first QDII fund is preparing to repay investors their principal in full after settling a legal dispute with defunct US investment bank Lehman Brothers in what proved an inauspicious beginning for a government pilot project that continues to disappoint.
In an announcement on its website yesterday, Hua An Fund Management revealed its Global Balanced Fund, launched in 2006, will redeem at a net asset value of $1 when it expires on November 2.
It states that Lehman Brothers …
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