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Fundraising by Chinese private funds slips, slowing economy takes toll

Money raised by newly-launched private funds in China plunged 44% in January from a month earlier, amid a slowing economy and rising geopolitical tensions, latest official data showed.

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Fundraising by Chinese private funds dives, slowing economy takes toll; Illustration: Binay Sinha

Reuters Shanghai
Money raised by newly-launched private funds in China plunged 44% in January from a month earlier, latest official data showed, adding to evidence of rapidly-shrinking risk appetite amid a slowing economy and rising geopolitical tensions.

The disclosure by the Asset Management Association of China (AMAC) mirrors a slump in fundraising by Chinese mutual funds, and comes as a growing number of money managers announce fund launch failures, or extend subscription periods. Newly-registered private funds totalled 95.9 billion yuan ($15.16 billion) in January, down 44% month-on-month, according to AMAC.

Of the total, fundraising by products that invests in stocks and bonds dropped

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Topics : China Yuan

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First Published: Feb 23 2022 | 8:41 AM IST

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