Funds Attract Less Cash
Source: Shanghai Daily |
June 15, 2011, Wednesday
|
Print Edition
Print Edition
THE total amount of capital raised from new mutual funds on the Chinese mainland plunged to the lowest on record this year.
As of last Friday, the 87 mutual funds set up this year had scooped up a combined 152.74 billion yuan (US$23.57 billion), meaning each fund had an average of 1.76 billion yuan, according to data compiled by Securities Times.
The figure was lower than the average 1.82 billion yuan raised by mutual funds in 2008 when the benchmark Shanghai Composite Index tumbled 65.39 percent.
The index has lost 2.8 percent so far this year.
As of last Friday, the 87 mutual funds set up this year had scooped up a combined 152.74 billion yuan (US$23.57 billion), meaning each fund had an average of 1.76 billion yuan, according to data compiled by Securities Times.
The figure was lower than the average 1.82 billion yuan raised by mutual funds in 2008 when the benchmark Shanghai Composite Index tumbled 65.39 percent.
The index has lost 2.8 percent so far this year.
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