Thndr Claps » U.S. Claps » Funds » BlackRock Raises $1 Billion Mutual Fund in China Amidst Heavy Backlash🏦
The ClapBlackRock’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.
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