China’s Harvest Fund chairman under investigation steps down

Harvest Fund Management, one of China’s largest asset managers, said on Friday Chairman Zhao Xuejun had resigned and is cooperating with authorities regarding an investigation pertaining to “personal problems”, without elaborating.

Co-chairman An Guoyong will serve as acting chairman.

The probe has nothing to do with the company’s fund business, Harvest Fund said in a statement, adding that it was operating normally.