HONG KONG - A number of Chinese funds that invest in overseas securities eased subscription restrictions after a global equities sell-off wiped out trillions from the markets.
Hwabao WP Fund Management's Nasdaq Selected Equity fund decided to raise daily maximum purchase by single account to 100,000 yuan from the previous 20,000 yuan. Chinese money piled into QDII funds in the past few years, triggering many popular funds, such as exchange-traded funds that track theand Nasdaq, to issue risk warnings and limit subscriptions to curb the feverish interest, as well as due to their products near the quota limit.
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