business

China’s privately offered funds manage over 15 trln yuan

BEIJING, Dec. 20 (Xinhua) — China’s privately offered funds managed a total of 15.91 trillion yuan (about 2.44 trillion U.S. dollars) at the end of November, industry association data showed.

The figure increased by about 73.95 billion yuan from the level recorded at the end of October, according to the Asset Management Association of China.

The number of registered privately offered funds rose by 1.92 percent month on month to 94,739 by the end of last month.

A total of 24,611 institutions managed these funds, up 0.4 percent from the previous month, the data showed.

Established in 2012, the association is a self-regulatory organization representing the mutual fund industry of China.

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