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CITIC BANK Adjusts Again Risk Ratings for Some Asset Mgmt Products; CN Media Cites Analysts Urging Cautious Decision-Making by Investors
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CITIC BANK (00998.HK) announced on its official website that it will gradually adjust the risk ratings of some (a total of 17) asset management products it distributes starting next Wednesday (15th). This marks the fourth time this year that CITIC Bank has adjusted the ratings of distributed fund products, Cailian Press reported. Notably, two equity-biased mixed funds themed on the Beijing Stock Exchange from China Universal Asset Management had their risk levels upgraded from PR4 to the highest PR5. Besides CITIC Bank, several other banks such as ABC (01288.HK), CCB (00939.HK), MINSHENG BANK (01988.HK), and Ningbo Bank also adjusted the risk ratings of their distributed public fund products this year. Public information showed that the vast majority of fund risk ratings were adjusted upwards. Most mainland banks' upward adjustments of public fund risk ratings are aimed at better cautioning investors to make prudent decisions and assume “risk responsibility”, the report said, citing analysis. AASTOCKS Financial News Website: www.aastocks.com |
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