Total assets under management of IPO funds in China reached 27.69 trillion yuan, about 3.88 trillion dollars, by the end of June, data from the China Association of Asset Management showed.
By the end of June, there were a total of 10,980 IPO funds managed by 144 fund management companies, the association said.
The data showed that the volume of closed funds approached 3.75 trillion yuan, while the volume of open funds amounted to about 23.9 trillion yuan.
The association said that among the 144 fund management companies, 48 are foreign-funded and 96 are local.
