Reforms make pharma stocks funds' hot picks

State-owned financial institutions and private fund managers are investing in pharmaceutical shares, which are seen benefiting from a series of reforms.

Both State-owned funds and private ones owned 12 common A-share stocks, out of which four were of pharmaceutical companies.

Each fund has assets worth more than 10 billion yuan ($1.5 billion) under management. And each has allocated substantial funds to the pharma sector from September to March, according to investment consultant platform Qiantougu.