日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

Economy

Markets

Industries

Insights

Reports

Events

Fund market suffers from global crisis

(Xinhua)
Updated: 2008-10-16 17:19

China's stock-oriented funds have tumbled more than 50 percent in the first three quarters, dragged down by fluctuating stock markets both at home and abroad, according to a report by Lipper fund research firm.

Statistics from the Thomson Reuters owned company showed the country's Qualified Foreign Institutional Investors (QFII) A-share funds lost more than half of their value in the January-to-September period.

The total assets of QFII A-share funds shrank to $7.3 billion through September, down 5.92 percent from $7.8 billion in the previous month.

Only those foreign funds approved through the QFII scheme could get access to China's domestic capital market.

"As the current global financial crisis worsens, it's no surprise that some investors choose to buy back their funds," Lipper reported.

The country's domestic funds also fell across the board in the first three quarters. Stock-oriented funds led the downward trend with their value dropping more than 52 percent. Only currency funds and treasury funds reported gains in the January-September period.

China's overseas funds, which invests via the country's Qualified Domestic Institutional Investor (QDII) mechanism, was no exception to the on-going global financial turmoil.

With funds in Lehman Brothers, Hua An global allocation fund, the country's first QDII fund issued in 1996, said it had been facing "major risks".

With the fourth largest investment bank in the US declaring bankruptcy in mid September, the fund may have to bear capital loss. Related buy-back transactions had come to a halt since September 23.

"Other QDII funds fell more than 8 percent on average in September," the Lipper analysis noted.