The Clap
BlackRock’s new investment fund in China — the first fund in China owned entirely by a foreign firm — has raised $1 billion from Chinese investors in its first week.
Who is affected🤷
The fundraising by the world’s biggest asset manager is being closely watched as more global players prepare to enter China’s fast-growing & highly competitive mutual fund market.
Why is this important🤔
Billionaire investor Geroge Soros wrote on the matter in the Wall Street Journal, calling BlackRock’s investment in China a “blunder” & a “tragic mistake.”
He added that it could damage the national security interests of the United States and other democracies. BlackRock declined to comment on the Soros article.
