BNP Paribas opens RMB 5bn fund
9 March 2004
BNP Paribas said it began sales of its first Chinese securities fund, for which it plans to raise a total of RMB 5 billion. Officials at the Paris-based bank said the fund will invest half its assets in blue chip Shanghai and Shenzhen A-shares and 20% of assets in government bonds. BNP holds a 33% stake in the fund in a partnership with mainland firm Shenyin Wanguo Securities.