Asian Tech Press (Sep 8) -- BlackRock Inc (BLK:New York), the world's largest asset management firm, said Wednesday it has raised 6.68 billion yuan ($1.03 billion) for its first mutual fund in China, with more than 110,000 investors participating in the subscriptions.

Earlier, Shanghai-based BlackRock Fund Management Co, the first 100% foreign-owned fund company in China, officially disclosed the subscription, contract, and other information of its first mutual fund, the BlackRock China New Horizon Mixed Securities Investment Fund.

The fund has been on sale since August 30, with the original closing date on September 10. Later, in consensus with the fund's custodian, China Construction Bank Corporation, the company decided to end the offering early. The fundraising deadline was advanced to September 3, 2021.

It is understood that the fund hires two managers. One of the fund managers,Hua Tang, has 16 years of experience in investment and research in China stock market, and has served as director of investment and research of BlackRock Investment Management (Shanghai) Co., Ltd., and chief representative of Schroders plc Shanghai Representative Office.

The other fund manager, Xiuli Shan, was an investment manager at BlackRock Investment Management (Shanghai) Co., Ltd., and an Analyst within Risk & Quantitative Analysis at Wilmington-based Blackrock Capital Management, Inc

(US$1 = 6.4611 yuan)