BEIJING, Feb. 11 (Xinhua) -- The top three fund management companies with the largest pension management scale by the end of 2018 were ICBC Credit Suisse Asset Management Co. Ltd. (ICBCCS), China Asset Management and Harvest Fund, according to the latest statistics from the Asset Management Association of China (AMAC).
Companies such as E-Fund Management, Bosera Asset Management Co., Ltd., China Southern Asset Management, Penghua Fund Management Co., Ltd., Yinhua Fund Management Co., Ltd., GF Fund Management, and Fullgoal Fund Management Company Limited ranked top 10 on the list.
Compared with the data of the first quarter, 2018, ICBCCS's pension management scale rose by a large margin, rising from the 10th to the first place, while E-Fund Management, which topped the list, slipped to the fourth place at the end of 2018.
Among the top 16 fund companies, 11 companies' assets exceeded 100 billion yuan, while the others' assets exceeded 10 billion yuan.
Since August 2018, China has approved three batches of pension target funds, with the number of such funds reaching 40. At present, the contracts of 12 funds in the first batch have come into effect, and the second batch of funds are gradually being issued. (Edited by Li Wenxin, liwenxin@xinhua.org)
A single purchase
