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  • Morgan Stanley and iShares: Two China A-Share ETFs  [View article]
    discount to NAV shall never be a reason to invest in a ETF, there are a lot of ETFs whose prices are consistently below their NAVs.

    for example, look at this Korean Fund ETF bp0.blogger.com/_UadJ8...

    close to open may be, but one of the funds CAF invested is i-share A-50, this will hardly be converted into open because the fund itself doesn't have QFII quota, by Chinese policy it (or any foreigner without QFII) cannot invest in A-share. Besides, most of the other funds CAF invested in are local Chinese funds, again foreigners are not allowed to participate. So the benefit to CAF shareholders are very remote if this 'close-to-open' is a reason.

    I personally do not believe in Fund of Funds anyway the only exception is Fund of Hedge Funds with proven track records. Reason is that I do not have the capital to invest directly in those reputable hedge funds.
    Mar 20 19:43 pm |Rating: 0 0 |Link to Comment
  • Morgan Stanley and iShares: Two China A-Share ETFs  [View article]
    Closed End Fund means a fund which will not accept new subscription once its initial placement (which can be private or public placement, if it is a public placement, it is an IPO) is completed. ie, the fund is 'closed'. ie, if you cannot get allocated during the initial placement, the only means to buy it is through the secondary market, the same way like you buying /selling any other stocks

    Exchange Traded Fund (ETF) is any fund which trades on any stock exchange.

    CAF is both an ETF and Closed End Fund.


    Ziwei Zhong
    www.LetsThinkChina.com
    Mar 20 04:49 am |Rating: 0 0 |Link to Comment
  • Chinese Discontent Only Minor Setback in Starbucks Growth Potential [View article]
    sorry that I was using my friend's computer , the above 'John Chan' comment is in fact from me.
    Mar 13 05:45 am |Rating: 0 0 |Link to Comment
  • China Mobile Speculated to Run 3G Service By 2008 [View article]
    the unit for the subscriber number table shall be 'thousands' instead of 'millions'

    sorry for the error
    Feb 14 10:04 am |Rating: 0 0 |Link to Comment
  • Morgan Stanley's China A-Share Fund: The First of its Kind [View article]
    two major differences between CAF and IFXAF

    1) IFXAF is an index tracking ETF, it tracks the Xinhua A50 index. The fund doesn't have QFII quota and it cannot invest directly in China listed A-share, instead it invests in Chinese A-Shares Access Product (CAAPs) issued by a connected person of QFII as underlying investments.

    2) CAF is not index tracking, the fund manager has free hand to pick stocks.
    Feb 09 10:16 am |Rating: 0 0 |Link to Comment
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