China's privately-offered funds expand in April

BEIJING - The total value of privately offered funds reached 13.31 trillion yuan ($1.92 trillion) at the end of April, industry association data showed.

The figure was up 517.29 billion yuan, or 4.04 percent from a month earlier, according to the Asset Management Association of China (AMAC).

The number of registered private funds rose 2.37 percent to 77,135 at the end of last month, said the AMAC in its monthly report.

In breakdown, the value of funds investing in securities expanded 11.6 percent to 2.36 trillion yuan after months of shrinkage, due to the strong performance of the A-share market.

The value of private equity funds, which invest in non-listed companies rose 3.04 percent to 8.16 trillion yuan.

Meanwhile, the value of venture capital funds expanded 5.86 percent to 1 trillion yuan, according to the association.

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