QFIIs underperform local equities in volatile market

SHANGHAI: China's qualified foreign institutional investor (QFII) scheme trading A-shares underperformed domestic equity funds in 2008, posting an average loss of 65.05 percent, according to fund research firm Thomson Reuters Lipper.

However, the funds on average still beat the benchmark index, which fell 65.95 percent over the past year.

Data from Lipper also showed that in December, the eight QFII A-share funds that have released their figures, bucking the downtrend, advanced 0.11 percent on average, but still performed weaker than the local equity funds' 2-percent gains.