China’s 82 qualified domestic institutional investor (QDII) funds posted a combined net profit of 2.74 billion yuan (US$452 milllion) in the fourth quarter last year despite a net outflow during the period, the official Xinhua news agency reported Thursday, citing data from fund management company Zhong Lu. Their net worth was 58.54 billion yuan at the end of 2013. No comparative figures were given. The funds cut their investment allocation for Hong Kong stocks by 3.81 percentage points to a record low of 58.24 percent in the fourth quarter and ramped up their weighing in US stocks by 3.88 points compared with the previous quarter.
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