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Article: China's bull market keeps fund profits rising in 2006
- Article from:
- Xinhua News Agency
- Article date:
- March 31, 2007
CopyrightCopyright 2007 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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China's bull market keeps fund profits rising in 2006
BEIJING, March 31 (Xinhua) -- Chinese investment funds saw a new
record in combined operating profits last year at 270.8 billion yuan
(33.9 billion U.S. dollars) for 2006, boosted by the country's bull
stock market.
The net income of the 287 funds launched by 53 fund management
firms totaled 124.8 billion yuan, while paper profits reached about
146 billion yuan, according to WIND, a provider of Chinese financial
data.
The profits were more than 38 times greater than the seven billion
yuan earned in 2005 by all 206 funds under 46 fund management firms.
The majority of profits came from the 216 stock-leaning funds,
which have at least ...