Chinese mutual funds lost more than US$60 billion in first half

11:13, August 30, 2010      

Email | Print | Subscribe | Comments | Forum 

China's mutual funds posted total losses of 439.75 billion yuan (around 64.69 billion U.S. dollars) in the first half of 2010, the highest since the second half of 2008, according to statistics from TX Investment Consulting Co. Ltd.

Equity mutual funds contributed most to the heavy loss. They reported 296.30 billion yuan in losses. In the first half, only money market mutual funds and bond funds have brought relatively high returns for investors.

Despite the huge loss, some mutual funds' net value still witnessed growth after deducting changes in fair values.

From January to June, China's stock markets fell over 25 percent, with 2.5 trillion yuan of market value vaporized.

The huge amount of capital withdrawn caused a weak stock market, said Cheng Siwei, a well-known economist in China and former vice chairman of the NPC Standing Committee.

By People's Daily Online


  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Players of Iran throw up their coach Velasco Julio during the awarding ceremony at the 16th Asian Men's Volleyball Championship in Tehran, capital of Iran, Sept. 29, 2011. Iran won the champion after beating China 3-1 in the final on Thursday. (Xinhua/Ahmad Halabisaz)
  • Greek artists burn copies of emergency tax notices during a protest against austerity measures in Athens, Greece, on Sept. 29, 2011. The Greek government is facing a new wave of protests as it introduces new austerity measures to obtain the sixth tranche of aids necessary to overcome the acute debt crisis.(Xinhua/Marios Lolos)
  • A winner of the 36th Miss Bikini International 2011 poses for a photo at the Olympic Sailing Center in Qingdao, a coastal city of east China's Shandong Province, Sept. 29, 2011. (Xinhua/Chen Jianli)
  • Staff members are in position at Beijing Aerospace Control Center in Beijing, capital of China, Sept. 29, 2011. Commander-in-chief of China's manned space program Chang Wanquan announced Thursday night that the launch of Tiangong-1 space lab module was successful. (Xinhua/Rao Aimin)
  • Champion of Miss Bikini from Poland receives trophy at the final of the 36th Miss Bikini International World Competition in Qingdao, east China's Shandong Province, Sept. 28, 2011. (Xinhua Photo)
  • Photo taken on Sept. 28, 2011 shows autumn scenery of populus euphratica forests in Ejina Banner, north China's Inner Mongolia. The populus euphratica forests here, with an area of 390,000 mu, or 26,000 hectares, is one of the world's most famous populus euphratica forests. The golden leaves and sunshines here in autumn is able to attract more than 100,000 person-times annually. (Xinhua/Zhao Tingting)
Hot Forum Discussion