China’s mutual funds top record of US$4.1 trillion as investors shift out of deposits amid bond rally, stock rebound

The industry had combined net assets worth 30.78 trillion yuan as of the end of April, an increase of 5.4 per cent, or 1.58 trillion yuan, from the previous month, according to the Asset Management Association of China. These assets were run by 148 mutual-fund managers, among which 51 were wholly owned by foreign investors or joint ventures, the data shows.