Chinese mutual funds earn 20 bln USD in Q4

Source: Xinhua| 2018-01-22 23:42:54|Editor: Mu Xuequan
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SHANGHAI, Jan. 22 (Xinhua) -- Chinese public mutual funds earned a total of 130 billion yuan (20 billion U.S. dollars) from investment in stocks, bonds, commodities and money market instruments in the fourth quarter of 2017.

The funds reversed from a loss of 27.9 billion yuan in the same period of 2016, said market data provider TX Investment Consulting Co. in a report released Sunday.

In the quarter, money-market funds earned 68.8 billion yuan, still the largest money maker for Chinese fund investors.

Due to rises of consumer stocks and a recovery in the bond market, earnings of equity, hybrid and bond funds also rose significantly.

Consumer stocks, such as leading liquor brands Kweichow Moutai and Wuliangye and milk producer Yili, were among the top 10 stock holdings for the publicly offered funds, it said.

In the quarterly reports of the public mutual funds, many fund managers still showed optimism in the stock market, particularly in e-consumer stocks, said TX Investment Consulting.

Shen Kun, a Shanghai-based public mutual fund manager at Guotai Asset Management Co., said her top stock picks in 2018 would mainly be among consumer staples, medicine and high-end manufacturing.