E Fund Shuts Emerging Markets Funds

Jan 15 2013 | 11:52am ET

E Fund Management has closed its two year-and-a-half-old emerging markets funds.

The E Fund Global Emerging Markets Fund disappointed both in terms of performance and capital-raising. It lost 2.8% in its first 12 months, and managed less than US$6 million at the end of last year, Asian Investor reports.

E Fund, the second-largest asset manager in China, also shut a long-only emerging markets fund at the same time. The firm had hoped to raise US$500 million for the two funds.

Both funds were managed by E Fund’s Hong Kong unit.

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