China’s public offering fund value tops 30.9 trln yuan in August

BEIJING, Oct. 2 (Xinhua) — The net value of assets under the management of China’s public offering funds topped 30.9 trillion yuan (about 4.41 trillion U.S. dollars) at the end of August, according to data from the Asset Management Association of China.
By the end of August, 163 management companies were operating a total of 12,132 public offering funds, according to the data.
Open-end funds, including equity, bond and money market funds, reported an asset value of nearly 27.07 trillion yuan, accounting for the lion’s share of the total. The scale of closed-end funds came in at nearly 3.84 trillion yuan.
China’s securities watchdog recently pledged to boost public equity funds as part of the efforts to encourage medium and long-term capital to enter the capital market.
Efforts will be made to continuously improve the scale and proportion of equity funds and create long-term and stable returns for investors, according to the China Securities Regulatory Commission.
The value of public equity funds stood at 3.29 trillion yuan at the end of August. ■