BEIJING - Assets under the management of China's public offering funds totaled 27.38 trillion yuan ($3.85 trillion) by the end of October, data from the Asset Management Association of China showed.

By the end of October, a total of 11,268 public offering funds were being operated by 144 fund management companies, the association said.

The scale of closed-end funds neared 3.73 trillion yuan, while that of open-end funds was at about 23.7 trillion yuan, the data showed.

Of the 144 fund management companies, 48 are foreign-funded and 96 are domestic firms, the association said.