Institutional demand for mutual funds soars in China

China’s investment industry has expanded by two-and-half times since the end of 2014 to Rmb24.4 trillion ($3.7 trillion), driven by growth in mandates and fund management subsidiary business, according to new Fitch research. What's more, institutional investment overtook retail demand for mutual funds last year, noted the report. The rating agency expects this broad expansion trend to persist on the back of swift accumulation of household assets, declining deposit rates, a steady …