Jul
31

Chinese Investors Pile Into Money Market Funds, Dumping Stocks

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  • Falling stocks, bond defaults contributed to money fund inflow
  •  World’s top fund Yu’EBao has biggest quarterly outflows ever

Chinese investors flocked into money-market products at a rate outpacing equities and bonds last quarter, adding to what is already the biggest segment of the nation’s mutual fund industry.

Mutual funds investing in low-risk, short-term debt instruments grew 5.4 percent last quarter to 7.7 trillion yuan ($1.1 trillion), compared to the 3.7 percent increase in bond funds and a drop of 1.3 percent in equity funds, data compiled by the Asset Management Association of China show…

Chinese Investors Pile Into Money Market Funds, Dumping Stocks

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