World’s largest money manager BlackRock is shutting a China-focused offshore fund amid congressional scrutiny over its alleged role in directing U.S. dollars to blacklisted Chinese firms. In a recent letter to shareholders, BlackRock Global Funds’ chairwoman Denise Voss said they will close the China Flexible Equity Fund over a “lack of shareholder interest” and the investment cost to keep the fund running, which she noted is “not in the best interests of shareholders.” BlackRock intends to liquidate all assets under the fund and redeem any outstanding shares by Nov. 7. Existing shareholders have the options to switch their investments into another fund, sell back their shares ahead of the liquidation date, or receive automatic payments for the shares when the fund closes down....Read more https://www.theepochtimes.com/china/blackrock-closes-china-equity-fund-after-congressional-probe-5489042