China's privately offered funds manage over 14t yuan by end-June

BEIJING - China's privately offered funds managed a total of 14.35 trillion yuan ($2 trillion) at the end of June, industry association data showed.

The figure decreased by 26 million yuan from the level recorded at the end of May, according to the Asset Management Association of China.

The number of registered privately offered funds rose 0.46 percent from the previous month to 86,095 by the end of June.

A total of 24,419 institutions managed those funds, down 0.67 percent from the previous month, the data showed.

Established in 2012, the association is a self-regulatory organization representing the mutual fund industry of China.