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China's fund industry reports RMB 123.53-bln loss in Q4

Jan. 31, 2012 (China Knowledge) - The 971 funds under the 64 fund management houses in China suffered a combined loss of RMB 123.53 billion for the fourth quarter of last year, according to the latest report by TX Investment Consulting Co, sources reported.  
In the whole of 2011, the Chinese fund industry booked more than RMB 500 billion of loss, including RMB 35.98 billion in the first quarter, RMB 89.45 billion in the second quarter and RMB 251.07 billion in the third quarter.

In the fourth quarter, domestic stock funds suffered a combined loss of RMB 94.02 billion as the Shanghai Composite Index was down 6.77% and the Shenzhen Component Index slid 13.35% during the period.

Hybrid funds lost RMB 39.17 billion in the fourth quarter, while bond funds earned RMB 5.01 billion as a result of a strong rebound on the bond market.

With the stabilization of overseas market, qualified domestic institutional investor (QDII) funds made a profit of RMB 1.84 billion in the fourth quarter.

Money market funds saw a profit of RMB 2.05 billion in the fourth quarter, up from RMB 1.22 billion in the third quarter, and principal guaranteed fund made a profit of RMB 757 million during the period.

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