Related News
Mutual funds post first profit since 2007
CHINA'S mutual funds returned to profit for the first time since the end of 2007 as they benefited from the strong performance of the domestic stock market.
A total of 444 mutual funds, managed by 59 institutions, reported combined net earnings of 296 billion yuan (US$43 billion), the Shanghai Securities News reported yesterday, citing statistics from TX Investment.
They profited as the benchmark Shanghai Composite Index advanced a collective 30.34 percent in the first three months of this year.
A total of 211 equity funds posted net profits of 211.1 billion yuan while mixed funds reported 83.9 billion yuan.
"The A shares are likely to continue to climb in the second quarter despite small fluctuations, and we'll keep holding a high proportion of equities in our portfolio," said Chen Qin, a fund manager at Harvest Fund Management Co.
"We need to stay cautious although the rising index suggests optimism in the market and some of the shares are already at a high value," said Wang Yawei, a fund manager at China AMC.
But currency funds saw their net profit plunge 71.74 percent from the previous quarter to 848 million yuan while that of bond funds sank 99 percent to only 79 million yuan.
Losses of funds managed by Qualified Domestic Institutional Investors narrowed as overseas markets rebounded. Nine funds lost 139 million yuan, down 98.5 percent from the 9.03 billion yuan in the fourth quarter of last year.
A total of 444 mutual funds, managed by 59 institutions, reported combined net earnings of 296 billion yuan (US$43 billion), the Shanghai Securities News reported yesterday, citing statistics from TX Investment.
They profited as the benchmark Shanghai Composite Index advanced a collective 30.34 percent in the first three months of this year.
A total of 211 equity funds posted net profits of 211.1 billion yuan while mixed funds reported 83.9 billion yuan.
"The A shares are likely to continue to climb in the second quarter despite small fluctuations, and we'll keep holding a high proportion of equities in our portfolio," said Chen Qin, a fund manager at Harvest Fund Management Co.
"We need to stay cautious although the rising index suggests optimism in the market and some of the shares are already at a high value," said Wang Yawei, a fund manager at China AMC.
But currency funds saw their net profit plunge 71.74 percent from the previous quarter to 848 million yuan while that of bond funds sank 99 percent to only 79 million yuan.
Losses of funds managed by Qualified Domestic Institutional Investors narrowed as overseas markets rebounded. Nine funds lost 139 million yuan, down 98.5 percent from the 9.03 billion yuan in the fourth quarter of last year.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔$粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.