China Fund Management Firms H1 Made CNY 642.5bn Profit
CHN | Quote | Chart | News | PowerRating -- Funds under top ten asset management firms in China recorded CNY 318.1 billion in profit in the first half of the year, accounting for 49.5 percent of the total fund management firms made then.
Public offering funds raked in CNY 642.5 billion profit in the first half of the year. The figure far exceeded CNY 490 billion gained in the first six months of 2007 and less than 6 percent lower than the peak of CNY 680 billion in the second half that year, according to data by the Beijing-based TX Investment Consulting.
The home fund sector incurred a great loss of CNY 1.5 trillion last year, but asset management firms jacked up the performance from the bottom by over 40 percent to CNY 642.5 billion in January-June period of the year.
Twenty-four large and medium fund firms nationwide brought in more than CNY 10 billion profit in the first six months each. China Asset Management took the first place among peers in terms of CNY 61.7 billion profit.
Source: www.morningpost.com.cn (August 31, 2009)
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