Shenzhen bourse: Publicly offered funds draw more investors in 2020

Investors who buy publicly offered funds accounted for 67.1 percent of overall investors in 2020, up 21.3 percent over 2019, the Shenzhen Stock Exchange said based on its 2020 Individual Investors Survey on Monday.

The demand for stocks and publicly offered funds dramatically rose last year. Average assets of individual security accounts were 597,000 yuan ($92,806.45), 50,000 yuan more than that in 2019, the highest level since 2010, when the survey was first conducted.

The survey covering 342 cities in 31 provincial-level regions received 27,667 responses from individuals aged 18 to 60.

It found investors with higher assets had more of a long-term value investment philosophy. Furthermore, investors following such a philosophy accounted for 31.1 percent of the total in 2020, compared with 20.4 percent in 2015.

Profit-making investors have a more mature investment approach, the survey said, as they made investments more rationally and put more of an emphasis on learning and study.