Chinese stock funds and mixed-typed funds, which together attracted millions of investors with their outstanding performance on the Chinese stock market last year, are losing buyers.
These funds reported a net redemption of 17 billion yuan (about2.39 billion U.S. dollars) by March 28 this year, when the benchmark stock index plunged from 5272.81 by the beginning of 2008 to 3580.15 points, said China Securities Regulatory Commission (CSRC) here on Tuesday.
But net fund purchases reported growth of more than 30 billion yuan during the first quarter, with more than 10 billion yuan purchase of close-end funds and 20 billion of open-end ones, it said.
CSRC official refuted the recent report saying that the fund redemption exceeded 100 billion yuan in the first quarter.
Source:Xinhua
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