Proposed new rules to contain risks in China's $2.9 trillion private fund sector have triggered concern that regulators are interfering too much in how funds are run, hampering managers' ability to execute their investment strategies.
The Asset Management Association of China (AMAC), a fund industry group overseen by the country's top securities regulator, released draft guidelines in late April targeted at one specific segment of the market -- private funds that invest in securities including bonds and listed stocks. They set out requirements and restrictions aimed at ensuring fund managers diversify their portfolios to reduce risk, the AMAC said in a statement.
