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QFII funds slump nearly 8%
By Winny Wang |
June 22, 2010, Tuesday
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Online Edition
Online Edition
THE average return of funds managed by overseas institutions trading in yuan-denominated shares slumped 7.79 percent last month after the key stock index fell 9.7 percent, a report said today.
The fall was faster than a 5.27 percent drop in the average return posted by domestic equity funds, according to Lipper & Co.
In the first five months of this year, the average return of funds under the Qualified Foreign Institutional Investor scheme lost 20.87 percent, faster than a 13.75 percent decrease of equity funds.
"China's stock market has suffered a bearish time since the beginning of this year on speculation of tightened macro-economy policies and European crisis, but the undervalued stocks are expected to attract institutional investors in the latter half of this year and the board will get rid of a bearish run," said Xav Feng, research head of Lipper China.
The benchmark Shanghai Composite Index slumped 9.7 percent last month and 20.9 percent in the first five months of this year.
The average return of funds under the Qualified Domestic Institutional Investor scheme, which allows domestic firms to invest in overseas stock markets, declined 6.44 percent in May and 9.34 percent in the first five months, Lipper said.
The fall was faster than a 5.27 percent drop in the average return posted by domestic equity funds, according to Lipper & Co.
In the first five months of this year, the average return of funds under the Qualified Foreign Institutional Investor scheme lost 20.87 percent, faster than a 13.75 percent decrease of equity funds.
"China's stock market has suffered a bearish time since the beginning of this year on speculation of tightened macro-economy policies and European crisis, but the undervalued stocks are expected to attract institutional investors in the latter half of this year and the board will get rid of a bearish run," said Xav Feng, research head of Lipper China.
The benchmark Shanghai Composite Index slumped 9.7 percent last month and 20.9 percent in the first five months of this year.
The average return of funds under the Qualified Domestic Institutional Investor scheme, which allows domestic firms to invest in overseas stock markets, declined 6.44 percent in May and 9.34 percent in the first five months, Lipper said.
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