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QFII funds outperform index and Chinese peers in July
By Winny Wang |
August 13, 2010, Friday
|
Online Edition
Online Edition
THE average return of funds managed by overseas institutions trading in yuan-denominated shares jumped 10.33 percent last month after the key stock index gained 9.97 percent to become the best performer in Asia-Pacific region, a report said yesterday.
The performance outshone a 9.21 percent growth posted by domestic equity funds, according to research firm Lipper & Co.
In the first seven months of this year, the average return declined 17.85 percent year on year for funds under the country's Qualified Foreign Institutional Investor scheme, which allows overseas investors to invest in stocks, bonds and funds on the mainland, compared with an 11.96 percent decrease for domestic equity funds.
"China still faces possible slower economic growth and tighter monetary policies. Although the stock market rebounded drastically last month, it still suffers pressures when going upward and the bottom will be tested repeatedly," said Xav Feng, research head of Lipper China."
The benchmark Shanghai Composite Index rebounded 9.97 percent last month to become the best performer in Asia-Pacific region, but its year-to-date decline totaled about 20 percent.
The average return of funds under the Qualified Domestic Institutional Investor scheme, which allows domestic firms to invest in overseas stock markets, rose 3.41 percent in July and declined 6.63 percent in the first seven months, according to Lipper.
The performance outshone a 9.21 percent growth posted by domestic equity funds, according to research firm Lipper & Co.
In the first seven months of this year, the average return declined 17.85 percent year on year for funds under the country's Qualified Foreign Institutional Investor scheme, which allows overseas investors to invest in stocks, bonds and funds on the mainland, compared with an 11.96 percent decrease for domestic equity funds.
"China still faces possible slower economic growth and tighter monetary policies. Although the stock market rebounded drastically last month, it still suffers pressures when going upward and the bottom will be tested repeatedly," said Xav Feng, research head of Lipper China."
The benchmark Shanghai Composite Index rebounded 9.97 percent last month to become the best performer in Asia-Pacific region, but its year-to-date decline totaled about 20 percent.
The average return of funds under the Qualified Domestic Institutional Investor scheme, which allows domestic firms to invest in overseas stock markets, rose 3.41 percent in July and declined 6.63 percent in the first seven months, according to Lipper.
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