Overseas funds deliver higher returns

By Winny Wang | November 13, 2009, Friday |

Print Edition

THE average return of funds managed by overseas institutions trading in yuan shares grew 8.12 percent last month backed by the robust growth of the stock market, an industry report said today.

Their performances outshone that of domestic equity funds, which reported a 7.38 percent growth in average returns, according to fund research firm Lipper & Co.

In the first 10 months, the average return of funds operating under the Qualified Foreign Institutional Investor program surged by 68.1 percent, higher than a 58.18 percent growth for domestic equity funds.

"China's economy will achieve an 8-percent growth this year after a robust growth in October, boosting investors' confidence in the market and providing more chances for mutual funds in the fourth quarter," said Xav Feng, research head of Lipper China.

The Shanghai Composite Index last month gained 7.79 percent, faster than any other market in Asia Pacific region.

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Overseas funds deliver higher returns

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