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PRC fund manager stats reveal beleaguered industry

The net profits of China’s 25 fund management firms stood at Rmb5.64bn (US$820m) last year, with only six companies seeing profits up and four companies registering loss, according to latest data from Wind, China’s financial statistics agency. “Fund managers are keeping pulling from the market as A-shares kept plummeting and their managed funds’ NAVs almost dropped to the same level…

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