BEIJING, March 28 (Xinhua) -- Net profits of China's funds sector were mostly under-performed in 2018, while noting that the net profits of funds in banking sector bucked that trend and reported soaring growth in net profits growth in 2018, reported China Securities Journal Thursday.
To be specific, net profits of China Merchants Fund, a fund company under a Chinese commercial bank, China Merchants Bank (CMB), stood at 894 million yuan in 2018, representing a growth of 11.33 percent year on year, according to CMB’s annual report for 2018.
Meanwhile, AXA SPDB Investment Managers, a fund company under the Shanghai Pudong Development Bank (SPDB), achieved net profit of 301 million yuan in 2018, surging 19.92 percent year on year. (Edited by Jiang Feifan)
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