The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Franklin Wins Chinese OK Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, August 12, 2003

Franklin Wins Chinese OK

by: Sean Hanna, Editor in Chief

Things are looking up for Franklin Templeton Investments' plans to sell mutual funds in China starting early next year. Franklin's Frank Liu, chief representative for Franklin Templeton's Greater China operation, told Dow Jones Newswires that the China Securities Regulatory Commission has granted Franklin permission to open an office for its effort.

The approval is allows the fund firm to prepare its business by obtaining office space and certain equipment, according to the report. The next step for Franklin will be to win approval for specific kinds of products and the markets in which they will be sold.

Franklin plans to enter the Chinese market as part of a joint venture with Shenzhen-based Sealand Securities Co. It will hold up to a 33 percent stake in the joint venture. Foreign firms are allowed to own up to 49 percent of Chinese funds.

The fund firm hopes to start selling an equity-related fund by early 2004 and perhaps as soon as February.  

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use