First Saudi Stock Mutual Fund Submitted to Chinese Regulators for Approval

What’s new: A U.S.-backed fund manager is seeking regulatory approval for what may become the first mutual fund available to Chinese mainland investors that tracks the Saudi Arabian stock market.

The China Securities Regulatory Commission on Wednesday received an application from Huatai-PineBridge Fund Management Co. Ltd. to register a mutual fund that would invest in the CSOP Saudi Arabia ETF, a Hong Kong-listed exchange-traded fund (ETF) that tracks the FTSE Saudi Arabia Index, according to the regulator’s website.