Beijing-based mutual fund manager China Asset Management closed fund-raising for an A-share fund 20 days ahead of schedule after it raised its target of US$1.46 billion in a single day, the South China Morning Post reported. The fund is expected to invest as much as 90% of its assets in stocks; analysts see its fund-raising success as a sign of strong investor confidence in the market. "The buying euphoria has not been seen for two years, and it reminded investors of the good days in 2007," said China Jianyin Investment Securities analyst Yang Zongyao. Investor sentiment may have been encouraged by Beijing’s recent statements that it would maintain its current loose monetary policy into the new year. However, leaders have noted that they intend to promote flexibility in monetary policy to prevent potential asset bubbles in areas such as equities and property.