(China Alert) China Q3 MF numbers: Minor drop, major shift
- MRF, Mutual Fund Companies
·Chinese public MF AUM fell 5.6% to RMB6.7tr (USD1.06tr) ·MMFs received large inflows at the expense of equity products ·Non-core business continues to surge, piling on competitive pressure Update: Chinese public mutual fund AUM fell from RMB7.1tr (USD1.1) to RMB6.7tr (USD1.06tr, -5.6%) in the third quarter. FMCs are still keenly feeling the effects of equity volatility. […]
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