Citic’s guaranteed ambition


Citic Securities, mainland China’s largest publicly listed securities firm, has applied to the China Securities Regulatory Commission (CSRC) to sell a three-year, capital-guaranteed fund.

Citic hope to raise 5 billion Yuan (around £300 million) from the issue, which will chiefly be invested in investment-grade bonds and treasury bills. Only one fifth will be invested in stocks and equity funds with high liquidity. No coupon will be paid, as they are banned by the regulator after a string of

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