Mutual funds allowed for HK shares
Print Edition
CHINA will allow mainland mutual funds to invest in Hong Kong shares through the Shanghai-Hong Kong Stock Connect, the country’s securities regulator said yesterday.
“Mutual funds are major institutional participants in China’s capital market,” Deng Ge, spokesman for the China Securities Regulatory Commission, said during a news conference yesterday.
“Their participation will boost product and business innovation.”
The latest move also gives retail investors an alternative access to the Hong Kong market by investing in mutual funds, according to analysts said.
Since the link between the two exchanges allowing cross-border investment started in November, southbound trading — mainland investors buying Hong Kong shares — has trailed overseas investors buying Shanghai equities.
As of yesterday, overseas investors used 41 percent of the available quota to buy Shanghai shares, compared with 12 percent used by mainland investors, data from the exchanges showed.
Mainland retail investors are deterred from the stock link due to the requirement of having at least 500,000 yuan (US$80,450) in portfolio value to trade in the program.
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