NAV of publicly-offered funds reaches RMB 17.78 trln in China by end April

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BEIJING, May 20 (Xinhua) — The net asset value (NAV) of publicly-offered funds mounted up to an all time high at 17.78 trillion yuan by the end of April, reported Securities Times citing data released by Asset Management Association of China (AMAC) Wednesday.

These publicly-offered funds were managed by 129 fund management companies, 12 securities firms and their asset management subsidiaries qualified for publicly-offered fund management and two insurance asset management companies.

Compared with the end of March, NAV of publicly-offered funds grew 1,146.091 billion yuan or 6.89 percent, with their aggregate fund shares up 5.17 percent from 15.57 trillion to 16.38 trillion by the end of April.

Previously in March, NAV and fund shares of publicly-offered funds rose 1.69 percent and 3.26 percent over February.

Since October 2019, April marked the seventh straight month of NAV growth and the largest month-on-month NAV growth for publicly-offered funds in China.

Analysts attributed the size growth to the upward trend of stock market despite its volatility and bullish bond market given the favorable interest rate environment at present.