China Merchants Fund Management Co., Ltd. (CMF) was the first Joint Venture Fund Management Company approved by the China Securities Regulatory Commission (CSRC). The company was formally launched on December 27, 2002. China Merchants Securities and ING Asset Management each holds 40% and 30% share of CMF, respectively. The balance of the company is equally held (10%) by China Power Finance Co. Ltd, China HuaNeng Finance Co. Ltd, and China COSCO Finance Co. Ltd. CMF was registered in Shenzhen with 160 million Yuan registered capital. The main businesses of the company include launching of funds, fund management and other businesses permitted by CSRC.
CMF will utilize rigorous international standards of investment management to fulfill our objectives of providing first class investment services to our clients. Since preparatory work on the establishment of CMF began, the company has endeavored to utilize advanced international investment management, marketing and personnel management techniques to build an effective organization with formalized procedures and standards. Currently, CMF has nine departments and two marketing centers. The nine departments include the Investment Management Department, Investment Trading Department, Marketing Department, Client Services Department, IT Department, Business Development Department, Supervisory and Audit Department, General Management and Finance Department, and the Fund Accounting Department. The two marketing centers include the Beijing Marketing Center and the Shanghai Marketing Center. Besides these departments, CMF has also set up an Asset Allocation Committee, a Risk Management Committee and has also appointed an independent audit and compliance officer.
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