From: Lipper

• The emerging equity markets still recorded good performance in October, but the increase in the A-Shares market continued to shrink.
• The Equity, Mixed-Asset Flexible, Mixed-Asset Aggressive, and Mixed-Asset Balanced fund categories chalked up 2.28%, 1.66%, 1.65%, and 1.52% returns, respectively.
• The Shanghai closed-end fund index rebounded 7.62%. The discount rate of large-capitalization closed-end funds narroweded to 25.11%.
• QFII A-Share funds had a 3.61% gain on average—larger than their domestic counterparts’. Fund flows were stable.
• The lopsided global economic and trading systems need amendment, and global financial markets face turmoil.
• After the tremendous expansion of assets under management (AUM) in China, with earning money now becoming more and more difficult, fund companies should be aware of liquidity risks caused by consequent redemptions.
• The current correction is a correction to the increase for the whole year. It may continue for a longer period. Bond funds are a safe harbor.

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Copyright Fund China 2009.

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