China Funds Attempt to Cool Retail Frenzy Over US Stock ETFs
- China Asset Management halts subscriptions into two funds
- Bosera Asset Management limits daily buys of some products
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China’s mutual fund houses are trying to tamp down investors’ enthusiasm for US stocks, putting new restrictions on buying into their products as demand soars.
China Asset Management Co. halted subscriptions into a pair of mutual funds that invest in exchange-traded funds tracking the Nasdaq-100 and S&P 500, according to its statement Wednesday. The firm warned of a rising premium on one of its ETFs, and said restrictions are meant to protect investors and ensure stable fund operations.