First QDII foreign-currency fund in China approved

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The State Administration of Foreign Exchange (SAFE) has approved China's first qualified domestic institutional investor (QDII) foreign-currency fund;…

The State Administration of Foreign Exchange (SAFE) has approved China's first qualified domestic institutional investor (QDII) foreign-currency fund; Hua An International Balanced Fund has an investment quota of US$500 million.

Investors in China can subscribe to the first foreign currency-denominated QDII fund with a minimum investment of US$5,000 for a term of five years. The QDII fund will invest in a diverse range of products, including global equities, real estate, securities, commodities and global funds.

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