Top 6 Chinese asset managers receive nod for hybrid funds

E Fund Management Co Ltd and other five Chinese asset managers have received regulatory approval to float three-year hybrid funds, according to the China Securities Regulatory Commission.

These hybrid funds will focus on unicorn companies listed in overseas market, which is an indication of the further opening-up of China's financial industry.

The funds will mainly invest in Chinese Depository Receipts of the listed Chinese startups with a valuation in excess of $1 billion, treasury bonds, local treasury bonds and AAA-rated corporate debt.

Individual investors can subscribe to the funds between June 11 and June 15, and institutional investors on June 19, according to industry insiders.

Let's take a look at who are the top 6 Chinese asset managers.

E Fund Management Co Ltd