Value of China's privately offered funds exceeds 20t yuan

BEIJING -- The value of China's privately offered funds stood at 20.82 trillion yuan ($2.9 trillion) at the end of August, industrial data showed.

There were 152,961 registered privately offered funds in China at the end of August, and 21,948 institutions managed these funds, according to the Asset Management Association of China.

A breakdown of the total shows that equity investment funds, amounting to 11.2 trillion yuan, was the leading category, followed by private investment funds.

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