Fund rumors denied

Around 30 billion yuan of fund capital flowed into the stock market in the first quarter, the securities regulator said yesterday, denying rumors that over 100 billion yuan in funds was cashed in.

By March 28 there were over 20 billion yuan of subscriptions for open-ended funds and a 10 billion yuan increase in closed-end funds, the China Securities Regulatory Commission (CSRC) said.

"All fund management companies will release their quarterly reports by April 20 and investors can make their own judgments then," a CSRC official, who declined to be named, said.