Chinese mutual fund houses cutting exchange-traded fund (ETF) fees ...Middle East

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Chinese mutual fund houses cutting exchange-traded fund (ETF) fees
source : forex live ( Middle East ) () 59
Bloomberg (gated) with the info - in brief:Chinese mutual fund companies, including China Asset Management Co. and E Fund Management Co., are cutting management fees on equity ETFs from 0.5% to 0.15% and halving custodian fees to 0.05%.The fee cuts align with calls from Chinese authorities to support the stock marketBloomberg analyst suggests the "national team" (state-backed funds managing $92 billion in ETF investments this year) may have driven the fee reduction.Mainland and Hong Kong index up This article was written by Eamonn Sheridan at www.forexlive.com.

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