Mutual fund assets on the rise

China’s 319 mutual funds, managed by 55 companies, are worth a total of US$153.3 billion, a 38% increase over year-end 2006.  Fund data compiler Z-Ben Advisers estimates US$21 billion was withdrawn from bank deposits to invest in funds this quarter, noting also a “growing tendency among investors to hold funds for short periods before cashing in and investing in other products. Turnover was more than 200% in the first quarter.”

http://www.chinaeconomicreview.com/dailybriefing/info/Mutal_fund_assets_pass_US_150b.html