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| Tags: changes, chinese, fair, first, funds, half, losses, recordhigh, report, value |
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08-29-2008, 04:29 AM
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Chinese funds report record-high losses in first half on changes in fair value
Chinese funds suffered record losses in the first half of the year, mainly from changes in fair value caused by the weakening stock market at both home and abroad. TX Investment Consulting Co. reported on Friday the country's 364 funds managed by 59 funds companies incurred record losses totaling 1.08 trillion yuan (157.9 billion U.S. dollars) between Jan. to June. The company said 961.9 billion yuan was from changes in fair price, accounting for about 88.9 percent of the total losses. ...
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