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Funds wait for the nod

(China Daily)
Updated: 2007-04-10 11:41

More than 50 new mutual fund applications are awaiting the government approval. But fund industry sources said yesterday the process might be bogged down by regulators' worries about the stock market overheating.

The sources said fund managers were not worried about the market's ability to absorb the new fund inflows, but their top concern was when they might win approval to sell new fund products.