The photo shows the logo of a fund firm in China.
BEIJING, Dec. 1 (Xinhua) -- China's fund issuance market saw historically high with 1,641 new fund products issued in the first 11 months of 2021, reported Xinhua Finance on Wednesday.
The figure, which exceeded the 1,385 annual aggregate in 2020, involved 2.67 trillion fund share offerings, a decrease of 162.58 billion of shares as compared to the 2.83 trillion shares in 2020.
From January to November, newly-established stock funds, hybrid funds, bond funds, alternative investment funds, qualified domestic institutional investors (QDII) fund and fund of fund (FOF) numbered 441, 793, 293, one, 30 and 74 respectively, with their fund shares issued at 344.87 billion, 1.60 trillion, 579.64 billion, 233 million, 32.80 billion and 105.52 billion. What's more, nine infrastructure real estate investment trust (REIT) funds were issued in the first 11 months and their fund shares reached 6.4 billion yuan.
In spite of the issuance rally in the third quarter, China's fund issuance market remained sluggish in the first five months and returned back to slackness from October.
By average offerings, however, funds established from January to November, 2021, had much less average issued shares at 1.62 billion, obviously lower than the 2.26 billion in 2020.
For star products, those with shares issued in excess of 10 billion numbered 22 ones, also lower than the 39 ones in 2020. Those with more than 20 billion shares issued were absent from January to November while there were six comparable products in 2020.
What's noteworthy, equity funds boasted an increasing proportion in all new fund products in the first 11 months. By the end of November, stock funds and hybrid funds accounted for nearly 73 percent of the new fund established this year, higher than the 64 percent in 2020.
On back of the bull runs of China's stock market in last 2-3 years, newly-established funds generally raked in hefty gains, which, in turn, spurred establishment of more products, said Liu Yiqian, head of the fund appraisal and research center of Shanghai Securities.
As Liu held, publicly-offered funds are now important choices for common investors as they are more and more familiar with publicly-offered funds after several rounds of investor education in China. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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