13 December 2018

Public fund assets break 3 trn yuan mark, paper says

Public funds managed more than 3 trillion yuan (US$491.8 billion) in assets at the end of 2013, a 4.74 percent year-on-year increase, the Shanghai Securities News reported Tuesday, citing the Asset Management Association of China. The rise in fund assets was mainly due to a boom in money market funds, it said. As of the end of last year, China had 89 fund firms with total assets of 4.2 trillion yuan, of which private funds accounted for 1.2 trillion yuan, according to the report.

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