BEIJING, April 22 (Xinhua) -- Net asset value (NAV) of publicly offered funds in China hit a new historic high of 16.64 trillion yuan by the end of March, according to data released by Asset Management Association of China (AMAC) Tuesday.
In spite of a growth pace slower than February, the figure renewed historical highs for four consecutive months even when epidemic-driven panic once doomed the global capital market.
Statistics from AMAC showed that the NAV of publicly offered funds in China grew 276.852 billion yuan in March, up 1.69 percent over February, with their fund shares up 3.26 percent month on month to 15.57 trillion.
Since March, many publicly offered fund products saw their NAV bounce up and down drastically due to the volatile capital market, but part of them actively hunted for bargain stocks, crude oil futures and overseas bond funds.
As sector portal Chinafund.com reported, stock funds shares ballooned nearly 100 billion in March and qualified domestic institutional investors (QDII) funds shares even surged more than 20 percent over February.
By the end of 2019, NAV of publicly offered funds in China stood at 14.78 trillion yuan and in the first quarter, the figure expanded more than 10 percent over the end of last year. (Edited by Duan Jing, firstname.lastname@example.org)