China’s publicly offered funds saw profits of 558.562 billion yuan in 2017, with hybrid funds and equity funds accounting for nearly half this amount.
Data from Tx Investment Consulting indicates that this marks a huge reversal compared to 2016, when Chinese publicly offered funds incurred losses of 178.836 billion yuan.
Hybrid funds and equity funds were two of the top fund categories, posting profits of 194.621 billion yuan and 79.012 billion yuan respectively, or 273.633 billion in total, accounting for nearly half of profits earned by China’s publicly offered funds in 2017.
Chinese money market funds posted profits of 212.151 billion yuan in 2017, while bond funds posted profits of 41.921 billion yuan, for a year-on-year rise of 4.552 billion yuan, while QDII funds and capital guarantee funds saw profits of 15.617 billion yuan and 7.654 billion yuan respectively.
The average annual profits of China’s top 10 fund companies was in excess of 15 billion yuan in 2017, with Tianhong Asset Management taking first place with profits of 57.1 billion yuan.