China Travel & Tourism News
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Investment funds lose $7 mln Jan-June
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| 29-Aug-2005 - Xinhua |
All the 181 investment funds under the 42 fund management companies in the country have published their half-year reports, revealing a combined loss of about 6 billion yuan (741 million US dollars) by the end of June 2005, the China Securities Journal reported. The top ten fund companies currently manage about 64 percent of the total capital under control of the 42 companies. Last year the ratio was only 55.43 percent, the newspaper reported. In the first half year, all the 181 funds paid 2.03 billion yuan for management fees, 380 million yuan for trustee fees and 222 million yuan to securities traders in commissions. In the first half year, the Baoshan Steel and Iron, listed in the Shanghai Stock Market, replaced the China National Petrochemical Corporation (Sinopec) to become the most popular share among securities funds. Figures show qualified foreign institutional investors (QFII) and social securities funds increased their investment in securities by large margins, the newspaper reported. |
| 29-Aug-2005 - Xinhua |
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