Asset management giant BlackRock has denied media reports claiming that it is withdrawing investments from China despite recently shuttering a China-focused fund.
“Our commitment to the Chinese market remains steadfast,” the newspaper China Daily quoted an unnamed BlackRock spokesperson saying in a September 7 article.
BlackRock Recently Closed Its China Flexible Equity Fund
The somewhat puzzling statement comes just after the company announced, on August 31, that it would terminate its China Flexible Equity Fund.
BlackRock, the largest asset manager in the world, with over $8.59 trillion in assets under management as of December 31, awaits a decision on a spot Bitcoin ETF. It applied for approval back on June 16.
However, the SEC has chosen to postpone its ruling on all spot Bitcoin ETFs, including those from Invesco, WisdomTree, ARK Invest, Valkyrie, and several others, until at least October 17.
The China Flexible Equity Fund is a China-focused offshore fund. As of September 4, it had a net asset value of just $22.3 million. BlackRock said it is closing the fund as part of a “routine fund management operation” to regularly evaluate products.
The firm claims this move protects investor interests. The strategy in question first launched in October 2017.
Author: Josh Adams
Tip BTC Newswire with Cryptocurrency
Donate Bitcoin to BTC Newswire
Donate Bitcoin Cash to BTC Newswire
Donate Ethereum to BTC Newswire
Donate Litecoin to BTC Newswire
Donate Monero to BTC Newswire
Donate ZCash to BTC Newswire
Related Posts ...
Comments are disabled.