BEIJING, April 23 (Xinhua) -- Publicly-offered funds size renewed to a historical high at 21.79 trillion yuan in China by the end of the first quarter, reported Xinhua-run Xinhua Finance citing data from TX Investment Consulting Friday.
Compared with the end of 2020, the total value of publicly-offered funds in China added 1.63 trillion yuan in the first quarter, up 8.12 percent and equity funds size expanded to 7.39 trillion yuan, of which 5.65 trillion yuan were active equity funds.
By the end of the first quarter, the aggregate shares of publicly-offered funds rose to 18.36 trillion, with net quarterly subscriptions at 740 billion shares mainly thanks to notable growths in sizes of money market funds and commodity funds.
However, stock funds, hybrid funds and bond funds all suffered net redemption in terms of their units or shares changes from January to March.
Respectively, 13.49 billion shares of stock funds, 123.78 billion shares of hybrid funds and 153.94 billion shares of bond funds were redeemed in the first quarter.
Since the Spring Festival during February 11-17 this year, China's stock market fluctuated and underwent downward corrections, which sent a host of funds, in particular, equity funds, into losses.
Statistics with TX Investment Consulting showed that publicly-offered funds encountered 210.27 billion yuan of losses in the first quarter, with hybrid funds and stock funds bearing the brunt by 177.37 billion yuan and 111.63 billion yuan of losses.
On the contrary, money market funds, bond funds and qualified domestic institutional investors (QDII) funds reaped gains in the first quarter.
In spite of the volatile stock market, publicly-offered funds did not slash their stock holdings in the first quarter, but adjusted their heavily-purchased stocks. They generally poured their money into stocks in financial and public utility sectors which boasted relatively more reasonable valuation than others.
The average stock holding positions of all comparable publicly-offered funds slid by less than one percentage point from 73.15 percent in the fourth quarter of 2020 to 72.5 percent by the end of March.
For open-ended publicly-offered stock funds, their average stock holding positions stood at 72.32 percent, with open-ended stock funds' and open-ended hybrid funds' both down by less than one percentage point to 87.82 percent and 69.24 percent respectively. (Edited by Duan Jing with Silk Road, duanjing@xinhua.org)
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