CHINA Assets has taken steps to defuse fears of shareholders over its dispute with Regent Fund Management, saying the fund no longer had an interest in its shares. Regent had made allegations of mismanagement by China Assets. In a formal statement to the Hong Kong stock exchange, China Assets said that it received notification from Regent that Regent ceased to have an interest in 7.5 million shares in China Assets, representing 10.07 per cent of issued capital. China Assets said also it had not received any formal request for an extraordinary general meeting of shareholders since March 14, the time Regent made known its intention to call such a meeting to oust China Assets' board of directors and liquidate the fund. However, the feud between the two fund companies over the performance and future of China Assets did not end with Regent's disposal of its shares in China Assets. The companies now are in dispute over how much profit Regent made from sale of the shares. Regent's managing director Peter Everington said his company made 30 per cent profit for its clients in less than three months. This claim was countered by China Venturetech Investment, China Assets' leading shareholder, which said Regent made less than 10 per cent profit on its investment.