Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
News for Outlets

【Financial Str. Release】China publicly-offered funds reap hefty gains in H1

August 30, 2021


Abstract : Publicly-offered funds in China pocketed hefty gains in the first half of this year despite the volatile capital market, with 55 of them earning 19.85 billion yuan of net profits from January to June, reported Securities Daily Monday.

0811-1.png

A man walks by a customer service center of China Asset Management Co., Ltd. located in the Financial Street in Xicheng District of Beijing, China on April 6, 2012. (Photo by Gong Lei/Xinhua)

BEIJING, Aug. 30 (Xinhua) -- Publicly-offered funds in China pocketed hefty gains in the first half of this year despite the volatile capital market, with 55 of them earning 19.85 billion yuan of net profits from January to June, reported Securities Daily Monday.

The gross profit figure grew 50 percent year on year and of the 55 publicly-offered funds, 50 of them realized profits and five ones suffered losses in the first six months of this year.

Many fund managers told the newspaper that the rapid profit growth of publicly-offered funds in the first half of this year was driven by their ballooning fund size, which brought up their management fees income and returns as compared with the same period of last year.

In spite of the overall profit growth, large publicly-offered funds presented increasing competitive advantages while performances of small- and medium-sized ones diverged.

By the end of June, there were at least eight large fund firms such as E Fund Management Co., Ltd. that saw assets managed by them renew their historical highs and surpass one trillion yuan.

Industry experts said that China's fund industry is currently undergoing an accelerating round of reform which changes their role from asset management to wealth management and beyond.

Under such circumstances, many large fund firms deepen their cooperation with institutional clients to further propel their all-channel strategy, which also includes business expansion through e-commerce channels and requires capital input and operating teams.

Compared with small- and medium-sized fund firms which face challenges both from the capital market and the entire fund industry, large fund firms obviously boast more advantages, industry experts added. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)

Scan the QR code and push it to your mobile phone

Keyword: profit publicly-offered funds

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial