China's private funds grow as investors flee mutual funds amid semiconductor sell-off
China's mutual fund assets fell by 560 billion yuan (US$83.3 billion) in July, ending a four-month growth streak, while private fund assets rose 8.7% to a record 25.73 trillion yuan. The shift came as investors diversified away from semiconductor-heavy portfolios amid a slump in chip stocks. The Shanghai Star 50 Index plunged nearly 26% in July, deeper than the broader market's decline.
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Original headline: “Chip sell-off helps boost China’s private funds as US$83.3b is pulled out of mutual funds.” Browse more stories.