BUSINESS China's privately offered funds expand in November

BUSINESS

China's privately offered funds expand in November

Xinhua

21:26, December 07, 2019

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Photo: VCG

BEIJING, Dec. 7 (Xinhua) -- China's privately offered funds managed 13.74 trillion yuan (about 1.95 trillion U.S. dollars) at the end of November, industry association data showed.

The figure was up 49.27 billion yuan, or 0.36 percent from a month earlier, according to the Asset Management Association of China (AMAC).

The number of registered privately offered funds rose 0.8 percent from the previous month to 81,299 yuan by the end of November, according to the AMAC.

Some 24,494 securities, futures trading and venture capital institutions managed these funds as of the end of last month, AMAC data showed.

Established in 2012, AMAC is a self-regulatory organization that represents the mutual fund industry of China.


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