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BlackRock and Fidelity suffer early losses in China

The giant asset managers started stock funds in the country, but early returns have been negative

BlackRock and Fidelity suffer early losses in China

Some of the world’s largest asset managers have gotten a rough welcome in China.

No sooner did fund managers like BlackRock and Fidelity International roll out their inaugural Chinese stock funds for wealthy domestic investors than the country’s markets started sliding — the Shanghai Composite index has fallen 19% this year. The declines have coincided with escalating trade tensions between China and the US, China’s weakening currency and a slowdown in economic growth.

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