China Fund Market Summary September 2007–Revelry When China Begins to Invest Abroad
From: Lipper
• The global equity markets, especially the emerging markets, recorded good performance in September. Because of investment abroad and large IPOs the increase of the A-Shares shrank.
• All China open-end fund categories recorded positive returns in September, but returns also shrank. The Mixed-Asset Aggressive, Mixed-Asset Flexible, Equity, and Mixed-Asset Balanced fund categories chalked up 5.74%, 5.21%, 5.15%, and 4.91% returns, respectively.
• The Shanghai closed-end fund index recorded its first monthly decrease (-2.45%) in September after a consecutive 13 months of increases. The discount rate of large-capitalization closed-end funds increased a huge 32.05%.
• QFII A-Share funds had a 5.25% gain on average—almost the same as their domestic counterparts. The total assets under management (AUM) of QFII funds reached US$7.9 billion.
• The China fund market began the age of investing abroad. The Mainland and Hong Kong markets both had a fanatical atmosphere. A large correction won’t be easy to avoid.
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Copyright Fund China 2009.
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