China Funds Told to End Real-Time Pricing as Soon as Mid-June
- Regulators have asked some funds to stop service by June 16
- Move meant to prevent day trading as stocks continue to sink
China asked fund vendors and asset managers to stop displaying real-time estimates of their mutual funds’ net value by mid-June, according to a person familiar with the discussions, though some flexibility will be allowed over the timeline for the rollout.
Some of the country’s mutual fund companies and third-party data providers will cease to offer such information by June 16, said the person, who has direct knowledge of the matter and asked not to be identified as they aren’t authorized to speak to the media. A rolling deadline would be adopted for those with larger client bases. The move, which had been planned for months, is intended to guide investors toward long-term investment and protect their interests by reducing speculative day-trading, the person said.