China’s Privately Offered Funds Hit 19.64 Trln Yuan By End-September

BEIJING, Oct. 28 (Xinhua) — The value of China’s privately offered funds stood at 19.64 trillion yuan (about 2.76 trillion U.S. dollars) at the end of September, industrial data shows. A breakdown of the total reveals that equity investment funds, with a total value of 10.89 trillion yuan, were the largest category, followed by securities investment funds and venture investment funds, according to the Asset Management Association of China. By the end of last month, the number of registered privately offered funds reached 147,566. Established in 2012, the association is a self-regulatory organization that represents China’s mutual fund industry.