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Chinese fund managers rush to capitalize on investors' green fever
by Samuel Shen and David Stanway
Reuters Translate This Article
6 January 2021
On 6 January 2021 Reuters reported:
Chinese money managers are rushing to launch new energy funds, seeking to capitalize on investors' green fever which has been fuelled by President Xi Jinping's carbon neutrality pledge. China's first photovoltaic industry exchange-traded fund (ETF), launched by Huatai-PineBridge Fund Management Co in December attracted hot demand, with assets under management jumping nearly six-fold in just a month to 10 billion yuan ($1.55 billion).
Global Good News service views this news as a sign of rising positivity in the fields of business and science, documenting the growth of life-supporting, evolutionary trends.
A slew of mutual fund houses are following suit, with Yinhua Fund Management Co raising money for a rival product this week while Tianhong Asset Management Co plans to launch an index fund that invests in solar power companies next Monday. More green energy funds are in the pipeline.
The funds will likely bring more money into an already red-hot sector. ...
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