Managed assets set to rise
By Verain Ye |
January 10, 2013, Thursday
|
Print Edition
Print Edition
ASSETS under management in China's mutual fund industry are expected to grow to a new industry high of 3.68 trillion yuan (US$593.5 billion) in 2013 after expanding 30 percent last year, a report said yesterday.
A year-end rally in the stock market which saw the Shanghai Composite Index surging 17 percent in just a month and a strong inflow of capital into money market funds boosted the total value of managed assets in the industry to 2.8 trillion yuan at the end of 2012, Z-Ben Advisors said.
"Many industry leaders relied heavily on money market funds in order to maintain their position," the report said.
A year-end rally in the stock market which saw the Shanghai Composite Index surging 17 percent in just a month and a strong inflow of capital into money market funds boosted the total value of managed assets in the industry to 2.8 trillion yuan at the end of 2012, Z-Ben Advisors said.
"Many industry leaders relied heavily on money market funds in order to maintain their position," the report said.
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