From Komfie Manalo, Opalesque Asia – The Chinese official newspaper China Securities Journal has reported that the Shanghai Stock Exchange (SSE) is mulling allowing so-called "sunshine" private trust funds to list on the exchange under certain conditions, in a move to further boost the bourse away from retail investors.
In a report, Reuters said that these "sunshine" private trust funds, also known as the prototype for hedge funds but more transparent, might be allowed to list with the Shanghai Stock Exchange and sell their products and services after meeting some conditions. Some of these funds may also be allowed to list.
It added that SSE’s general manager Zhang Yujun revealed the bourse is studying a plan to initiate several measures, including offering targeted services and the introduction of new rules to make the bourse more attractive for institutional investors.
Last week, the state-controlled Bank of China revealed it was targeting Chinese hedge fund start ups to push its prime brokerage business and become a full-fledged investment bank.
China has also been very aggressive in trying to attract foreign hedge funds to the country. Last month, ......................