Bloomberg (gated) with the info – in brief:
Chinese mutual fund companies, including China Asset Management Co. and E Fund Management Co., are cutting management fees on equity ETFs from 0.5% to 0.15% and halving custodian fees to 0.05%.
The fee cuts align with calls from Chinese authorities to support the stock market
Bloomberg analyst suggests the “national team” (state-backed funds managing $92 billion in ETF investments this year) may have driven the fee reduction.
Mainland and Hong Kong index update:
This article was written by Eamonn Sheridan at www.forexlive.com.
