ICBC Credit Suisse Grabs China Share.

(From SinoCast China Financial Watch)

BEIJING, July 25, SinoCast -- ICBC Credit Suisse Asset Management Co, China's first fund management firm controlled by a bank, finished selling its third fund, on the heels of two earlier successes. The firm, 55 percent owned by Industrial and Commercial Bank of China, the country's biggest lender by assets, collected as much as CNY 8.3 billion for the fund, lifting the total assets under the firm's management to exceed CNY 15 billion. Beijing-based ICBC Credit Suisse has hence been catapulted onto the ninth place at China's fund industry consisting of 50- odd players in just one year. Kicked off in June 2005 with CNY 200 million …