China Fund Market Summary July 2007–Consolidations Continue in Developed Markets, QDII Sets Sail Against The Wind
From: Lipper
• Consolidations continued in developed markets in July, but emerging markets recorded good performance. The Mainland, Hong Kong, and Taiwan surged.
• All China open-end fund categories recorded positive returns in July. The Equity, Mixed-Asset Aggressive, Mixed-Asset Flexible, and Mixed-Asset Balanced fund categories chalked up 16.32%, 14.53%, 13.98%, and 12.53%, respectively.
• The Shanghai closed-end fund index rose 13.96% in July. The accumulated increase of the last 12 months reached 262.53%. The discount rate of large-capitalization closed-end funds decreased slightly to 24.39%.
• QFII A-Share funds had a 14.46% gain in July—a little lower than their domestic counterparts’.
• The qualified domestic institutional investor (QDII) system of the fund industry debuted, injecting a new concept into the fund market.
• The subprime mortgage influence was far from an end. Investors should be cautious in the hot market.
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Copyright Fund China 2009.
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