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Overseas managed funds see 2.15% rise
By Winny Wang |
September 17, 2010, Friday
|
Print Edition
Print Edition
THE average return of funds managed by overseas institutions trading in yuan-denominated shares rose 2.15 percent last month, outperforming a 1.21 percent increase in the Shanghai Composite Index, according to an industry report.
The performance was in contrast to a 4.44 percent growth posted by domestic peers, said the report by research firm Lipper & Co.
In the first eight months, the average return declined 14.82 percent year on year for funds under the Qualified Foreign Institutional Investor scheme, which allows overseas investors to invest in stocks, bonds and funds on the Chinese mainland, compared with a 7.66 percent decrease for domestic equity funds.
"The mainland stock market has recovered for two straight months, and we expect the upward trend will continue in the fourth quarter," said Xav Feng, research head of Lipper China.
Hybrid aggressive funds performed the best among domestic mutual funds with an average return of 5.73 percent last month.
The average return of funds under the Qualified Domestic Institutional Investor scheme, which allows domestic firms to invest in overseas markets, declined 1.36 percent in August and 7.79 percent in the first eight months.
The performance was in contrast to a 4.44 percent growth posted by domestic peers, said the report by research firm Lipper & Co.
In the first eight months, the average return declined 14.82 percent year on year for funds under the Qualified Foreign Institutional Investor scheme, which allows overseas investors to invest in stocks, bonds and funds on the Chinese mainland, compared with a 7.66 percent decrease for domestic equity funds.
"The mainland stock market has recovered for two straight months, and we expect the upward trend will continue in the fourth quarter," said Xav Feng, research head of Lipper China.
Hybrid aggressive funds performed the best among domestic mutual funds with an average return of 5.73 percent last month.
The average return of funds under the Qualified Domestic Institutional Investor scheme, which allows domestic firms to invest in overseas markets, declined 1.36 percent in August and 7.79 percent in the first eight months.
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