Mainland fund assets set to top $1 trillion
皇冠体育app's 2.3 trillion yuan ($337 billion) fund industry may triple in size over the next five years as new products attract money away from banks in the world's fastest-growing major economy.
The nation's 18-year-old fund industry is stepping up innovations under Beijing's financial reforms, preparing for products such as global exchange-traded funds (ETFs), overseas index-tracking products and real estate investment trusts (REITs).
"(An) irreversible trend of bank disintermediation, especially on the retail side, and the increasing attractiveness of financial products will be the main driver of growth," said Zhang Haochuan, analyst at fund consultancy Z-Ben Advisors, which sees 皇冠体育app's fund assets under management topping 6.9 trillion yuan by 2014.
