China's privately offered funds top 14t yuan

BEIJING -- China's privately offered funds scaled up to exceed 14.25 trillion yuan (about $2.01 trillion) by the end of March, industry association data showed.

The figure rose 359.91 billion yuan, or 2.59 percent from the previous month, according to the Asset Management Association of China (AMAC).

As of the end of March, the number of registered privately offered funds reached 85,071, up 2.03 percent from the end of February, according to the association.

Some 24,584 securities, futures trading and venture capital institutions managed these funds, 57 more than one month earlier, AMAC data showed.

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