Chinese investors pour $1 billion into BlackRock's new fund
CNN
BlackRock announced today that it has raised 6.68 billion yuan ($1 billion) for its first China mutual fund, just two days after billionaire financier and philanthropist George Soros called its investments in the country a "blunder."
The world's largest asset manager said Wednesday that the fund — which has now raised 6.68 billion yuan — was officially established this week and has attracted more than 111,000 investors. It started offering investment products to individual Chinese investors late last month. "We are very proud of achieving this milestone for our China fund management business, and are grateful for investors' overwhelming support," said Rachel Lord, BlackRock's chair and head of Asia Pacific, in a statement.
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