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【Financial Str. Release】NAV of China publicly-offered funds hits all time high at RMB23.54 trln by end-July

August 24, 2021


Abstract : China's publicly-offered funds saw their net asset value (NAV) and shares both rise in July, with their end-July NAV hitting an all time high at 23.54 trillion yuan, reported Securities Times on Tuesday.

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Photo taken on December 5, 2009 shows the the nanme and logo of a fund firm situated in Shanghai, east China. (Xinhua)

BEIJING, Aug. 24 (Xinhua) -- China's publicly-offered funds saw their net asset value (NAV) and shares both rise in July, with their end-July NAV hitting an all time high at 23.54 trillion yuan, reported Securities Times on Tuesday.

The newspaper citing statistics with Asset Management Association of China (AMAC) said that NAV of publicly-offered funds grew 2.21 percent or 507.72 billion yuan, month on month in July and their aggregate shares mounted up to record high 20.21 trillion ones, up 3.61 percent month on month by the end of July.

Since April,the gross NAV of publicly-offered funds have been rising on and on.  Prior to April,  the largest monthly rise of this year, which stood at 1.89 trillion yuan, occurred in February when China's stock market reached a new high since August 19, 2015. 

Apart from publicly-offered hybrid funds, shares of others that invest in stocks, bonds and money market vehicles and qualified domestic institutional investors (QDII) funds as well all expanded from June in July. 

Dragged by the weak A-share market in July, NAV of hybrid funds, stock funds and QDII funds all shrank mildly from June.

Chart I:NAV of various publicly-offered funds in China by the end of July

Types   of Publicly-offered funds NAV   by end-July (RMB trln) NAV   by end-June (RMB trln) Changes   (%)
Stock   funds

2.24

2.26

-0.87

Hybrid   funds

5.43

5.62

-3.26

Bond   funds

3.14

2.94

6.97

Money   market funds

9.73

9.27

4.95

QDII   funds

0.17

0.18

-2.42

Total

23.54

23.03

2.21

Funds that invest in fixed-income products turned out the most attractive capital absorber in July. NAV of bond funds and money market funds rose in total more than 600 billion yuan from June.

In July, China's A-share market weathered drastic volatilities due to changes of regulatory policies for some industries, dampening the NAV of related publicly-offered funds. Investors, however, sought the chance to hunt bargains via stock funds, which drove shares of publicly-offered stock funds up 3.94 percent month on month to 1.39 trillion ones by the end of July. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)

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Keyword: Financial Str. Release China publicly offered funds

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