Feb 26 2008
Can Fund Managers in China Survive 2008?
I was just about to leave my desk when my mobile beeped. Harvest Fund sent me a message:
嘉实成长,平衡型基金,震荡市中理想选择,27 日拆分净值 1 元…
Harvest Growth balanced fund, ideal choice in a volatile market, is to split on the 27th. NAV 1 Yuan… (My translation)
2008 will be a tough year for fund managers in China. Chinese stock market works more like a casino, and investors are mostly pure speculators, investing according to gut feelings than economic data, buying and selling mutual funds like stocks! But this is not the worst thing. Fund managers also bet! During the same period, funds outside China investing in the Chinese stock market have much better performance.
So fund managers, stop bugging me with spam messages, but make sure you can survive 2008!
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