China's privately offered funds expand in April

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BEIJING, May 23 (Xinhua) — China’s privately offered funds hit 17.79 trillion yuan (about 2.77 trillion U.S. dollars) by the end of April, industry association data shows.

The figure was up 562.7 billion yuan, or 3.27 percent, from the end of the previous month, and it was the fourth consecutive month of growth, data from the Asset Management Association of China (AMAC) shows.

By the end of April, the number of registered privately offered funds rose 2.11 percent from one month earlier to 105,025, according to the AMAC.

A total of 24,479 institutions managed these privately offered funds by the end of April, AMAC data shows.

Established in 2012, the AMAC is a self-regulatory organization that represents China’s mutual fund industry.

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