Value of China's privately offered funds hits 20.28t yuan by end-February

BEIJING -- The value of China's privately offered funds stood at 20.28 trillion yuan ($2.86 trillion) at the end of February, down from 20.33 trillion yuan at the end of January, industrial data showed.

The number of private fund managers stood at 21,151 at the end of February, down from 21,594 at the end of January, according to the Asset Management Association of China.

The number of registered privately offered funds stood at 153,288 at the end of February, down from 153,756 at the end of January.

Established in 2012, the association is a self-regulatory organization that represents China's mutual fund industry.