China's privately offered funds expand in October

BEIJING - China's privately offered funds managed 13.69 trillion yuan (about $1.96 trillion) at the end of October, industry association data showed.

The figure was up 298.64 billion yuan, or 2.23 percent from a month earlier, according to the Asset Management Association of China (AMAC).

The number of registered privately offered funds stood at 80,650 by the end of October, according to the AMAC.

In terms of management scale increment classification, the scale of securities privately offered funds rose by 114.2 billion yuan from a month earlier, the scale of equity privately offered funds climbed by 212 billion yuan, venture capital funds expanded by 37.3 billion yuan, and the scale of other kinds of privately offered funds dropped by 64.9 billion yuan.

Established in 2012, AMAC is a self-regulatory organization that represents the mutual fund industry of China.