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Capitalization of Chinese funds expands by 43.85% in 2005 |
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Written by Administrator
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Friday, 13 January 2006 |
BEIJING The net asset value of Chinese funds reached 462.882 billion yuan by the end of 2005, a hefty increase of 43.85% over the figure at the end of 2004, according to statistics released by WIND Consulting.
Capitalization of Chinese funds expands by 43.85% in 2005
BEIJING The net asset value of Chinese funds reached 462.882 billion yuan by the end of 2005, a hefty increase of 43.85% over the figure at the end of 2004, according to statistics released by WIND Consulting.
By December 31, 2005, Chinas fund industry had 216 funds with a total of 465.283 billion units.
However, it is remarkable that the fund industry suffered a general net withdrawal in the fourth quarter of 2005, reaching 29.618 billion units, or 7.17% of the total, as compared with the end of the third quarter.
In fact, the comparable funds after deduction of newly launched funds merely realized a capitalization growth of 10.5% last year. Nevertheless, such a growth was attributed mainly to the blowout growth of money market funds. Statistics showed that the total scale of money market funds increased to 186.8 billion units by the end of 2005, from 63.4 billion units a year before, rocketing 194.58%.
Funds investing in bonds are another spotlighted type of fund, the total scale of which increased by 470.36% to 22.267 billion units by the end of 2005 from 3.904 billion units a year earlier.
This should be attributed to the issue of two medium- and short-term bond funds last year with a total volume of 18.9 billion units that accounted for 85% of the total scale of the bond funds.
However, the rest of the bond funds, after excluding the new funds launched in 2005, still witnessed shrinking, with the proportion of net withdrawals hitting 13.78%.
In contrast to the money market funds and bond funds, stock-investing and portfolio funds suffered a cold market in 2005. Among the 39 comparable stock funds, 32 experienced net withdrawal of different degrees; and the capitalization of portfolio funds saw a decline of 13.07% from the previous year.
In 2005, 59 new open-end funds were launched, among which 20 were stock or portfolio funds, 16 were money market funds, one was principal-guaranteed fund, and two were bond funds.
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Last Updated ( Friday, 13 January 2006 )
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China Stock News