China's public offering fund volume tops 27 trillion yuan

BEIJING -- Assets under the management of China's public offering funds reached 27.29 trillion yuan (about 3.84 trillion US dollars) by the end of August, data from the Asset Management Association of China showed.

The figure was 231.9 billion yuan higher than the end of July, according to the association, an industry body supervised by China's securities regulator.

As of the end of August, a total of 10,262 public offering funds were operated by 140 fund management companies, the association said.

In breakdown, the scale of closed-ended funds reached nearly 3.25 trillion yuan, while open-ended funds stood at about 24.04 trillion yuan, the data showed.

Of the 140 fund management companies, 45 are foreign-funded while 95 are domestic firms, the association said.