Fund managers reduce A-shares in second quarter

Fund managers reduced holdings of A-shares in the second quarter, according to statistics from brokerage firm Southwest Securities.

As reported by Securities Times on Tuesday, combined holdings of A-shares in hybrid funds and equity funds dropped 1.52 percent from the previous quarter, the lowest since the third quarter of 2010. The newspaper based its article on second-quarter financial reports from fund companies.

Financial services, realty development, information technology and construction remain the favorite sectors for fund managers, according to the data.

Fund managers increased holdings of A-shares of companies in the entertainment, public facilities and information technologies sectors, and reduced holdings in transportation, power and mining sectors, according to the data.