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Rebound in QFII fund performance

THE average return of funds managed by overseas institutions trading in yuan shares rebounded 4.48 percent last month thanks to the recovering economy and loose monetary policies that supported the stock market.

The performance was worse than that of equity funds, which reported a 5.4 percent growth in average returns, according to fund research firm Lipper & Co.

In the first three quarters, the average return of funds operating under the Qualified Foreign Institutional Investor program rose 55.28 percent from a year earlier, compared with a 46.49 percent growth for equity funds.

The State Administration of Foreign Exchange has raised the limit that individual foreign institutions can invest in the mainland's stock markets.

QFII investors are allowed to each invest as much as US$1 billion, up from the existing US$800 million. The country has approved 87 QFII funds.

The return of funds operating under the Qualified Domestic Institutional Investor program, which allows Chinese institutions to invest in foreign shares, gained 5.79 percent last month. The funds returned 45.02 percent on average in the first nine months, the report said.


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