Martin Currie Investment Management, the Edinburgh-based fund manager, is negotiating the relaunch of its $38 million China Heartland Fund. The fund has been suspended since May 2001 because of foreign exchange regulation problems, leaving its mainly specialist institutional investors unable to redeem their shares.
The China Heartland Fund, launched in June 1997, claims to be the only offshore fund that gives foreigners access to China’s domestic A-share market. A shares – red-chip stocks – are issued by mainland companies in which investment is restricted to Chinese citizens.
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