Lion Fund Management’s gold ETF has received $483 million in investments under the Qualified Domestic Institutional Investor (QDII) scheme, Asia Asset Management reports. The gold ETF, launched in December 2010, mainly invests in overseas ETFs that track international gold prices.
The fund of funds has picked nearly 30 overseas gold ETFs for investment, focusing on mature financial markets, including the U.S., Europe and Japan. The fund will also invest in South Africa. The Shanghai-based company is evaluating many gold-backed ETFs on the global market as potential targets, including the SPDR Gold Trust.
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