Friday, July 04, 2008

BGF China fund commences investment

BlackRock, one of the world's largest publicly traded investment management firms, announced Wednesday it has launched BGF China fund, promising to maximize total returns.

The fund, part of the BlackRock Global Funds (BGF) umbrella headquartered in Luxembourg, invests at least 70% of assets directly in Chinese equities. BlackRock Managing Director and Chief Investment Officer Nick Scott is responsible for overseeing management of the China Fund, which is co-managed by Jing Ning and Alan Wang, based in Hong Kong.

The timing is perfect for BlackRock to introduce BGF China Fund, as China's economy is being transformed into a consumer society, from being an export-oriented economy characterized by low margins and low labor costs but energy intensive exports, say BlackRock officials.

The fund will be benchmarked against the MSCI China 10/40 Index. The fund is available in Hong Kong and the U.K.

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