BEIJING, March 30 (Xinhua) -- New public funds offered in China in the first quarter of this year had raised 511.2 billion yuan by March 28, reflecting the market's craze particularly for equity funds with the amount of funds only next to those raised in the fourth quarter of 2019 and the second quarter of 2015, reported Securities Times Monday.
Analysts attributed the spree to boosts from the rally of A-share market after the Spring Festival holiday.
However, the hot subscription for public funds failed to remain in March, due to excessive corrections on overseas stock markets.
Fund raising of public funds are closely linked with market performance and the recent days, their issuance entered a trough stage as a star fund product of a state-owned bank raised merely 200 billion yuan nationwide, disclosed a fund sales manager.
Part of funds targeted investing in science and technology-driven equity assets even postponed their issuance.
If the overseas COVID-19 pandemic remains tough, global stock markets are likely to continue to be volatile, which in turn may doom issuance of public funds in China, the fund sales manager said. (Edited by Duan Jing, duanjing@xinhua.org)
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