Updated at 4.45pm, Tuesday: The China Securities Regulatory Commission (CSRC) is currently reviewing six open-end fund management plans, the People's Daily reported on Tuesday.
The newspaper, citing sources close to the CSRC, said the commission would choose two fund managers from Southern, Penghua, Hua'an, Dacheng, Huaxia and Boshi.
Although the CSRC has kept tight-lipped over the scheme, optimistic industry analysts expect the fund to make its debut on the mainland in one month's time.
Sources with the fund management companies said it was still up to the CSRC to decide the size of the funds, regulatory measures and the launch timetable.
The central government has announced it would introduce open-end funds to boost the stock market.
