China Fund Market Summany June 2007-Consolidation is Far From an End

From: Lipper

• All main global equity markets recorded gains in the first half of the year. The Asian markets had the best performance.
• In June the hot global equity markets showed signs of cooling down. Mainland China led the decrease, but the Hong Kong and Taiwan markets surged.
• Total assets under management (AUM) rose 110% in the first half, reaching 1.8 trillion yuan.
• China open-end funds recorded satisfactory returns in the first half. The Equity, Mixed-Asset Aggressive, Mixed-Asset Flexible, and Mixed-Asset Balanced fund categories recorded 70.89%, 65.82%, 61.98%, and 53.17%, respectively.
• In June equity funds recorded their first loss in the last 11 months.
• Closed-end funds flew against the wind in June, with the SSE fund index rising 11.03%. The discount rate of large-capitalization closed-end funds decreased heavily to 25.00%.
• The AUM of QFII A-Share funds decreased for the second consecutive month. But they still recorded a 2.33% gain in a decreasing market.
• Consolidation is far from an end; the market needs a long period of consolidation. Funds may not be a harbor of refuge.

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Fund Market Insight Reports : Lipper FundMarket Insight Reports provide in-depth summaries and analysis of key economic and market events that help shape both fixed income and equity mutual fund performance trends. These weekly, monthly, and quarterly reports allow you to view trends within the equity and fixed income fund universes, highlighted in detailed charts, graphs, and commentary.

Copyright Fund China 2009.

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