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China's public funds reap RMB 99.96 bln profit in H1

Sep. 4, 2012 (China Knowledge) - Public funds under the 67 fund management houses in China booked a profit of RMB 99.96 billion in the first half of this year, according to the latest statistics from Zhonglu Fund Research Center.

China's public funds suffered a loss of RMB 125.4 billion in H1 of 2011 and huge loss of RMB 500.4 in the whole of last year.

In the first six months, domestic stock funds were the biggest gainers, recording a combined profit of RMB 49.89 billion. Hybrid funds saw a total profit of RMB 25.44 billion during the period.

Bond funds and qualified domestic institutional investor funds booked a profit of RMB 11.08 billion and RMB 988 million in the first half, respectively. Money market funds recorded profit of RMB 8.05 billion.

Only five of the 67 fund management houses saw losses in H1. The five most profitable fund houses in the period were China Asset Management Co, Harvest Fund Management Co, E Fund Management Co, GF Fund Management Co and China Southern Fund Management Co.

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