Newly issued funds up on previous year

The amount of newly issued funds in the first three quarters of this year was much larger than the previous year, while the average scale of IPOs from those funds dropped 30 percent, statistics show.

According to statistics from Wind Information Co Ltd, a financial information services provider, 271 new funds were issued by the end of September for this year, 11 more than the total amount of newly issued funds in the whole of 2012. Those funds raised more than 437.9 billion yuan ($71.53 billion), slightly more than the amount of 431.8 billion yuan from 185 funds issued during the same period the previous year.

The average amount of the IPOs was more than 1.6 billion yuan, over 30 percent lower than previous year.

The average scale of IPOs for January and February was more than 2 billion yuan but dropped to more than 1 billion yuan between March and May and less than 1 billion yuan within June and August. The average rebounded to 1.9 billion yuan in September as a new fund issued with a huge scale of IPOs of more than 9.7 billion yuan.

Experts suggested that most of the newly issued funds are products with fixed gains as there are certain structural opportunities in the market while the demands from investors in stock funds increased.

Under the current situation, investors preferred buying growing funds combined with stock and bonds.