China Warns Against ‘Entertaining’ Investors With Fund Pitches
- Firms are prohibited from organizing entertainment events
- China’s mutual fund industry grew to nearly 20 trillion yuan
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China’s asset management association warned funds to steer clear of marketing that verges on entertainment, underscoring scrutiny over money managers increasingly resorting to livestreaming to win over investors.
Mutual funds are prohibited from organizing and participating in entertainment events, and need to uphold standards of long-term and value investing, the Asset Management Association of China said on its official WeChat account on Wednesday. The industry group is supervised by China’s securities regulator.