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August 15, 2009

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QFIIs' average return surges

THE average return of funds managed by overseas institutions to trade yuan shares surged 83.32 percent in the first seven months of this year, an industry report said yesterday.

The performance outshone that of equity funds which reported an average return of 72.42 percent, fund research firm Lipper & Co said in a report.

Last month, 15 funds under the Qualified Foreign Institutional Investor scheme scored an average return of 14.21 percent, compared with 14.07 percent for the equity funds, the report said.

The cumulative size of 27 QFII funds that were researched by Lipper reached US$10.65 billion by July 30, against US$10.19 billion a month earlier, it said.

The China Securities Regulatory Commission has allowed 86 overseas investors to invest in the stock market, bonds and mutual funds under the QFII scheme.

The Shanghai bourse surged 87.39 percent in the first seven months of this year to become the best-performing market in the Asia Pacific, followed by Indonesia and India.

"As China's economy warmed up, investor enthusiasm reflected optimism over the recovery," the report said, adding "investors should still be cautious about excessive liquidity, bubbles and corrections."

The return of funds under the Qualified Domestic Institutional Investor scheme was 10.02 percent last month, behind domestic equity funds. In the first seven months, the QDII funds posted an average return of 44.21 percent.


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