Fortis Haitong launches China's largest mutual fund

Fortis Haitong Fund Management said it received RMB 12 billion from investors, the largest subscription to a Chinese mutual fund to date. The fund will invest in bonds and stocks on the Shanghai and Shenzhen exchanges. Fortis Haitong said 85% of orders for the fund, which was available for subscription at over 10,000 outlets, came from individuals. This is the second fund set up by Fortis Haitong, a joint venture between Belgium's Fortis group and mainland-based Haitong Securities.