Ruifang Fund to Buy RMB 500M of Its Own Products, Setting Private Fund Record

Cointime update: Ruifang (Shanghai) Private Fund Management Co. said it and core team members will subscribe RMB 500 million ($69 million) of their own capital into the firm’s products within two weeks of the announcement, citing confidence in China’s capital markets and its active management team. The purchase far exceeds typical single-firm self-purchases this year and is set to set a recent record for a single private fund self-subscription.