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Wanguo International Mining Deploys AU$123.8 Million Into BlackRock Funds

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Wanguo International Mining Group (HKG:3939) has invested about AU$123.8 million into two BlackRock Investment Management (Australia) funds, according to a Sunday filing to the Hong Kong stock exchange.

The transactions involve subscriptions to the BlackRock Global Liquidity Alternatives Fund - S1 for AU$20 million on Sept. 10, and the BlackRock Multi-Strategy Absolute Return Fund for AU$103.8 million on Sept. 11.

The investments are funded using idle proceeds from a HK$5.44 billion convertible bond issue.

Wanguo said the investments aim to yield higher returns than standard commercial bank demand deposits in mainland China and Hong Kong.

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