Money

China mutual funds lose $52b in Q2

(Agencies)
Updated: 2010-07-21 10:31

Chinese mutual funds had a combined loss of 351.3 billion yuan ($52 billion) in the second quarter, China Securities Journal reported today, citing TX Investment Consulting Co.

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Sixty fund-management companies cut their portfolio equity holdings for 652 funds to 73.25 percent in the second quarter from 81.95 percent at the end of the first quarter, according to the Beijing-based newspaper.