Mainland mutual funds posted a loss of 125.4 billion yuan (HK$153.17 billion) in the first half of this year yet, according to official data, asset managers still collected about 15 billion yuan in management fees, a slight increase from the year earlier period.
According to data compiled by the China Securities Journal based on interim results of 763 mutual funds, only 164 funds reported profits between January and the end of June when the benchmark Shanghai Composite Index fell 1.6 per cent.
However, the country's 61 mutual fund houses earned 14.9 billion yuan in management fees in the same period, up 0.35 per cent year on year. By the end of June, the total assets managed by the 763 funds were valued at 2.3 trillion yuan.
Last month, fund consultancy Desheng FoF found that the mainland's about 250 stock-focused mutual funds lost 7.9 per cent of the value of their assets under management in the first six months.
The stock-oriented funds lost 78.9 billion yuan of investor funds.
Gains and losses in assets under management are different from profits and losses. Only after the buying and selling of certain shares are completed, can the profit or loss be worked out. In addition, the value of assets under management also includes the net redemptions or net purchases.