Markets

Funds' net assets shrink 500b yuan in H1

By Zhao Tingting (chinadaily.com.cn)
Updated: 2010-07-01 11:06

Net assets of all Chinese fund products, except for Qualified Domestic Institutional Investor (QDII) funds, totaled 2.05 trillion yuan as of June 30, down 500 billion yuan from the end of last year, the?China Securities Journal reported Thursday.

Given the backdrop of the Chinese stock market's plunge, all equity fund products, except the one from Harvest Fund Management Co, went into the red in the first half of the year.

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The Shanghai Composite Index, a gauge of china's stock market, tumbled 26.82 percent in the first six months of this year.

Among the 681 funds that unveiled their first half performance, 641 open-end funds' net assets stood at 1.96 trillion yuan.

Net assets of equity and hybrid funds were 1.13 trillion yuan and 640.58 billion yuan, respectively. Bond and money market funds earned net assets of 87.26 billion yuan and 97.44 billion yuan, respectively.