Chinese investment fund managers cut their stock positions in the second quarter of 2015 as indicated in their second-quarter financial reports due to risk aversion sentiment, according to statistics from TX Investment.
A total of 927 stock-oriented funds run by 84 fund management companies that have comparable statistics kept an average position of 53.09 percent by the end of June, over 24 percentage points lower than the 77.22 percent seen at the end of the first quarter.
Meanwhile, stock-invested funds with comparable figures kept relatively high positions in stocks at the end of June, with their average stock positions hitting 90.32 percent, slightly lower than 90.6 percent at the end of March.
By sector, the investment funds slightly cut their positions in manufacturing, information transmission, software and information technology and financial stocks in the second quarter as compared with the first quarter. Transport, logistics, postal services, agricultural, health and technology service stocks were overweighted by these funds.
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