China mutual funds loses US$20B in first half

China's mutual funds made a combined loss of 125.4 billion yuan or US$19.65bi) in the first half of 2011.

These were battered mainly by weakness in the country's stock market, reports Reuters

State media have reported the funds lost 439.75 billion yuan in the first half of 2010.

All of the country's 61 fund management companies, which manage 763 mutual funds, posted losses in the first six months of this year.

Stocks-oriented funds reported the biggest loss 78.9 billion yuan while those that invested just a part of their funds in stocks lost 47.9 billion yuan, it said.

Money market funds made a slight profit to become the only silver lining of the domestic industry during the period, the official China Securities Journal said.

China's benchmark Shanghai Composite Index fell 1.6% in the first half of this year, due mainly to a slew of economic cooling steps, including increases in interest rates and bank reserve requirement ratios.

In the first half of 2010, the index plunged 27%, battered by a government campaign to ease property price rises.

Also Read

SGX, Thomson Reuters unveil bond indices for benchmarking investment performance

AXA Real Estate raises ¥26b at launch of 2nd Japanese debt investment vehicle

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit