Fledgling China FoFs require careful use: NCSSF, Amac

China’s state pension fund and its fund regulatory body welcomed the country’s approval of funds of funds for use, but they and other experts caution that investors need to carefully scrutinise the vehicles before using them. After months of planning, the China Securities Regulatory Commission (CSRC) initially approved six local FoFs* on September 7 and 8. The move gained the cautious support of Wang Zhongmin, vice chairman of the National Council for Social Security Fund (NCSSF),…