Huabao Fund suspends subscription and fixed investment of its indirect investment in overseas cryptocurrency asset funds

Odaily reported that Hwabao Fund Management Co., Ltd. issued an announcement stating that Hwabao Overseas Technology Stock Securities Investment Fund (QDII-LOF) has temporarily suspended the subscription and regular investment business, while other businesses are still being handled normally. The date of resumption of the subscription and regular investment business of this fund will be announced separately. Investors who submit subscription and regular investment business applications after 3:00 pm on December 12, 2024 will be deemed as submitted on the next business day, and will not be confirmed, and the unconfirmed funds will be returned to the investor's designated fund settlement account. (Shanghai Securities News) Previously, the fund issued by Hwabao Fund and indirectly invested in overseas cryptocurrency assets was sold on multiple platforms such as Ant Fortune and China Merchants Bank. According to the Q3 report of Hwabao Overseas Technology C, among the top ten holdings by fair value at the end of the reporting period, five were index funds managed by 'Cathie Wood' of Ark Investment Management, accounting for a total of 73.12%. It is reported that this product is sold on multiple distribution platforms such as Ant Fortune, Licai Tong, Eastmoney, China Merchants Bank, and Xueqiu Fund, but from December 11, both the A-share and C-share units have temporarily suspended large-amount subscriptions, with a daily limit of RMB 1,000 per person.