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The first eight index funds to track the Beijing Stock Exchange raised 2.94 billion yuan ($422 million), falling far short of their own targets amid lackluster investor sentiment for the nascent stock market that targets small and medium-sized companies.
The funds are set up to mirror the BSE 50 index, the premier measure of stock market performance. Fund sponsors include China Asset Management, E Fund Management, Fullgoal Fund Management, Harvest Fund Management, China Universal Asset Management, GF Fund Management, China Merchants Fund Management and China Southern Asset Management.
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