First off-exchange sci-tech innovation bond index funds approved, outlets report
In short
Off-exchange sci-tech innovation bond index funds filed by fund companies including Chunhou (淳厚) and Yuanxin Yongfeng (圆信永丰) have been approved, according to Chinese outlets on 20 October. The outlets describe them as the first batch and cite industry sources.
Read the full story 1 min read
Off-exchange sci-tech innovation bond index funds filed earlier by fund companies including Chunhou (淳厚) and Yuanxin Yongfeng (圆信永丰) have been approved, CLS (财联社) reported on 20 October, citing industry sources. The outlets headlined the news as the approval of the first batch of such funds. [ 1 , 2 , 3 ]
36Kr (36氪) and Jiemian (界面新闻) carried the same text and credited Shanghai Securities News (上证报). The reports say the range of sci-tech innovation bond products is widening and that investors will have more choice. They give no details on the number of funds, the approving body or launch dates. [ 1 , 2 , 3 ]
Why it matters
The outlets say the approvals widen the range of sci-tech innovation bond products and give investors more choice. The documents give no figures or launch dates.
Key facts
- The first batch of off-exchange sci-tech innovation bond index funds has been approved. [ 1 , 2 , 3 ]
- Fund companies including Chunhou (淳厚) and Yuanxin Yongfeng (圆信永丰) had filed for the funds earlier. [ 1 , 2 , 3 ]
- The outlets say the range of sci-tech innovation bond products is widening and investors will have more choice. [ 1 , 2 , 3 ]
- CLS said it learned of the approvals from industry sources. [ 1 ]
- 36Kr and Jiemian credited Shanghai Securities News (上证报) with the report. [ 2 , 3 ]
Confirmed by several sources
Still unclear
- Which body granted the approvals, how many funds were approved and when they will launch. The documents are short summaries and give none of these details.
- Which other fund companies besides Chunhou and Yuanxin Yongfeng are in the first batch. The documents say only 'Chunhou, Yuanxin Yongfeng and other fund companies'.
- The original source of the report. The three outlets carry the same text; CLS cites industry sources, while 36Kr and Jiemian attribute it to Shanghai Securities News.