China s privately offered funds expand in April
Xinhua
23 May 2021, 16:55 GMT+10
BEIJING, May 23 (Xinhua) China s privately offered funds hit 17.79 trillion yuan (about 2.77 trillion U.S. dollars) by the end of April, industry association data shows. The figure was up 562.7 billion yuan, or 3.27 percent, from the end of the previous month, and it was the fourth consecutive month of growth, data from the Asset Management Association of China (AMAC) shows. By the end of April, the number of registered privately offered funds rose 2.11 percent from one month earlier to 105,025, according to the AMAC. A total of 24,479 institutions managed these privately offered funds by the end of April, AMAC data shows.
China s privately offered funds expand in April - Buz & Tech News sina.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sina.com Daily Mail and Mail on Sunday newspapers.
Ant leapfrogs banks to top China fund sale rankings
By Andrew Galbraith and Samuel Shen
Reuters
By Andrew Galbraith and Samuel Shen
SHANGHAI (Reuters) -Alibaba affiliate Ant Group became China s largest seller of non-money-market mutual funds in the first quarter, industry data showed, disrupting a market dominated by banks despite a regulatory crackdown.
Ant and Alibaba are being targeted by Beijing s anti-monopoly campaign. Regulators have urged Ant to reduce the size of Yu ebao, China s biggest money market fund managed by Ant-controlled mutual fund house Tianhong.
Outstanding non-money-market mutual funds sold by Ant s fund sales arm were worth 890.1 billion yuan ($138.23 billion) at the end of the first quarter of 2021, according to data released late Thursday by the Asset Management Association of China (AMAC).
Despite Regulatory Clampdown, Ant Group Posted $3.4 Billion Profit
May 14, 2021 | by Samuel Nwite |
Ant Group Co.’s profit rose to $3.4 billion in the December quarter after Chinese regulators thwarted its record initial public offering and told it to scale back its sprawling business, reported Bloomberg.
Billionaire Jack Ma’s fintech giant contributed nearly 7.2 billion yuan to Alibaba Group Holding Ltd.’s earnings, a company filing showed Thursday. Based on Alibaba’s one-third stake in Ant, that translates to 21.8 billion yuan ($3.4 billion) in profit, up 50% from 14.5 billion yuan in the previous three months. Ant’s earnings lag one quarter behind Alibaba’s.