Equity boom pushes China fund assets to new high

Assets in China’s funds industry have hit a new high, after months of blistering growth propelled by an equity bull market and allocation changes. Growth is at its highest for eight years, and mutual fund assets are expected to top Rmb10 trillion ($1.6 trillion) by the end of this year if the A-share market continues to boom. But the private fund industry is leading the way, with asset values more than doubling in value this year. Mainland China’s funds industry assets grew by…