China’s mutual funds industry sees 2011 assets plunge
Despite the launch of many new funds and six fund management firms, AUM still drops 12.5% with a negative performance on both the equity and fixed income side.
China’s mutual funds industry saw its assets under management shrink 12.5% last year despite a plethora of new fund launches and the establishment of six fund management companies.
Industry assets totalled Rmb2.17 trillion ($344 billion) at the end of 2011, from Rmb2.48 trillion the year before. There are now 914 mutual funds managed by 66 FMCs, according to TX Investment Consulting. Three new FMCs that started last year have yet to launch any funds.
Fund performance on both the…
Please sign in or register
for free access to 1 article per month from AsianInvestor’s content and archives of over 16,000 articles.
¬ Haymarket Media Limited. All rights reserved.