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LC New Trends Equity Fund, thefirst mutual fund product launchedin China this year, was released byLombarda China Fund ManagementCo., Ltd. on January 4th. It is a jointventure, in which Italy’s BancaLombarda e Piemontese S.p.A.(BLP) holds a 49% stake, China’sGuodu Securities holds 47% andPingdingshan Coal Group holds theremaining 4%. Unexpectedly, thelaunch of LC New Trends caused asensation-more than two billionunits were gathered within the ini-tial three days.A survey shows that purchasers ofLC New Trends trust in the strongsupport from the shareholder BLP,which is in charge of five well-per-f or ming f un d ma n ag e men tcompanies. It is the unique featureof “integrating the East and theWest” - its research into local listedcompanies, international risk con-trol system and QFII (Qualified For-eign Institutional Investors) invest-ment management mode - that themarket is keen on, Lombarda Chinachief marketing officer Chen Pengbelieves.QFII has become the second largestgroup of investors in the domesticA-share market. Authorities have al-ready speeded up the application as-sessment process. The developmentof China’s QFII scheme is predict-able based on past experience ofother markets. Simply following thetrend is what QFIIs should do.
LC New Trends Equity Fund, the first mutual fund product launched in China this year, was released byombarda China Fund ManagementCo., Ltd. on January 4th. It is a jointventure, in which Italy’s BancaLombarda e Piemontese SpA (BLP) holds a 49% stake, China’s Guodu Securities holds 47% andPingdingshan Coal Group holds theremaining 4%. Unexpectedly, thelaunch of LCNew Trends caused asensation-more than two billionunits were gathered within the in-tial three days. A survey shows that purchasers ofLCNew Trends trust in the the strongsupport from the shareholder BLP, which is in charge of five well-per-f or ming f un d ma n ag e men tcompanies. It is the unique feature of “integrating the East and the West” - its research into local listedcompanies, international risk con-trol system and QFII (Qualified For-eign Institutional Investors) invest-ment management mode - that the market is keen on, Lombarda Chinachief marketing officer Chen Pengbelieves. QFII has become the second largest group of inv estors in the domesticA-share market. Authorities have al-ready speeded up the application as-sessment process. The developmentof China’s QFII scheme is predict-able based on past experience ofother markets. Simply following thetrend is what QFIIs should do.