China's privately offered funds hit 20.82t yuan

BEIJING -- The value of China's privately offered funds stood at 20.82 trillion yuan ($2.89 trillion) at the end of July, industrial data shows.

The figure was up from 20.77 trillion yuan a month ago, according to the Asset Management Association of China. A breakdown of the total shows that equity investment funds, with a total size of 11.22 trillion yuan, was the largest category, followed by stock investment funds and venture investment funds.

The number of registered privately offered funds stood at 152,878 by July, and 21,996 institutions managed these funds.

Established in 2012, the association is a self-regulatory organization that represents China's mutual fund industry.