China Warehouse- More Than Crockery Message Board

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Strategies & Market Trends : China Warehouse- More Than Crockery

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To: RealMuLan who wrote (1412)	11/13/2003 11:42:43 PM
From: RealMuLan	Read Replies (1) of 6370

Foreign fund firms wary of China market HONG KONG: China’s mutual fund industry is poised to mushroom, but foreign fund managers are cautious, saying Chinese markets can become overblown and foreign joint ventures often suffer from cultural clashes. “There’s been a lot of excitement about China, but the money that’s gone in is not as large as you might think. The rhetoric is larger,” said Michael Gordon, regional chief investment officer at the Hong Kong unit of US-based Fidelity Investments, the world’s biggest mutual fund company. “While the fundamentals have been attractive for a long, long time, the market can get so overblown that (international) investors are treading with caution,” he told a venture capital conference in Hong Kong on Thursday. China’s mutual fund industry is expected to surge as the country dismantles a cradle-to-grave benefits system and as Chinese have stashed away about $1.3 trillion in bank accounts. dailytimes.com.pk

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