Broker gets approval
By Winny Wang |
April 23, 2010, Friday
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Print Edition
Print Edition
GUOTAI Jun'an Allianz Fund Management Co has gained approval from the Shanghai Stock Exchange to develop an exchange-traded fund tracking Chinese commodity stocks.
The product will track an index of 50 large capitalized Chinese stocks in the energy, agricultural and industrial materials industries, the firm said on its Website yesterday.
The index, jointly developed by the company and China Securities Index Co, will provide a benchmark to gauge the performance of commodity stocks and serve as a barometer of investor expectations for commodity prices, the firm said.
The product will track an index of 50 large capitalized Chinese stocks in the energy, agricultural and industrial materials industries, the firm said on its Website yesterday.
The index, jointly developed by the company and China Securities Index Co, will provide a benchmark to gauge the performance of commodity stocks and serve as a barometer of investor expectations for commodity prices, the firm said.
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