Public offering fund volume reaches $626b

China's public offering fund volume had reached 3.83 trillion yuan ($626 billion) by September, gaining a 300 billion yuan increase in the third quarter, Securities Times website reported Monday.

The total fund volume grew 30.74 percent in the first three quarters this year, compared with the 2.92 trillion yuan volume by the year-end of 2013, according to a report citing the data from TX Investment Consulting Co Ltd, an investment institution that provides securities investment consulting services and fund evaluation service.

Data also shows that the increase of money-market fund contributes a lot to this phenomenon. The money-market funds volume had reached 1.76 trillion yuan by the third quarter, highest among these types of funds.

Among the 90 fund management companies, 72 of them saw growth in the third quarter. ICBC Credit Suisse Asset Management Co Ltd had the largest increase of 34.89 billion yuan.

The biggest fund management company Tian Hong Asset Management Co Ltd saw a decrease in the third quarter, with its main product Yu'E Bao funds decreasing by 39.27 billion to 534.89 billion yuan. It was the first drop since Yu'E Bao was launched in June, 2013.

However, Tian Hong still tops other companies with a fund volume of 547.99 billion yuan, followed by China Asset Management Co Ltd in the second place.

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