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In Depth: Why China’s Index Fund Boom Has Been a Bust for Investors

By Yue Yue and Zhang Yukun
2022年11月23日 19:51
The narrow focus of money managers and their pursuit of hot sectors have left many investors nursing losses
Retail investors in China have flocked to index funds. Almost 60% of all shares in equity ETFs were held by retail investors by the end of June, according to analysts at Guosen Securities.

Fierce competition among Chinese money managers has energized the country’s 300-billion-dollar index fund (指数基金) sector over the past three years, with the launch of hundreds of funds targeting specific themes (主题) and sectors (行业) including decarbonization, semiconductors, vaccines, and national security.

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