Fundraising by Chinese private funds dives, slowing economy takes toll ✔️ Stratford Management Tokyo Japan

February 23, 2022
Posted by: Stratford Team
Category: Economy

An investor sits in front of a board showing stock information at a brokerage office in Beijing, China, December 7, 2018. REUTERS/Thomas Peter

SHANGHAI, Feb 23 (Reuters) – Money raised by newly-launched private funds in China plunged 44% in January from a month earlier, latest official data showed, adding to evidence of rapidly-shrinking risk appetite amid a slowing economy and rising geopolitical tensions.

The disclosure by the Asset Management Association of China (AMAC) mirrors a slump in fundraising by Chinese mutual funds, and comes as a growing number of money managers announce fund launch failures, or extend subscription periods.

Newly-registered private funds totalled 95.9 billion yuan ($15.16 billion) in January, down 44% month-on-month, according to AMAC.

Of the total, fundraising by products that invests in stocks and bonds…