Large inflows and outflows of fund redemptions lead to a decrease in stock positions to 74.67%. The first quarter reports for 346 funds from 58 fund management companies in 2008 have been fully disclosed today. Despite a fall of over 30% in the Shanghai Composite Index during the same period, the massive redemption of funds that the market was generally concerned about did not occur.
According to Tiantong statistics, by the end of the first quarter of 2008, excluding QDII products, the total number of shares of 342 funds reached 202.5173 billion, a slight net increase of 1.628 billion shares compared to the end of 2007, with a net subscription ratio of 0.08%, maintaining the overall stability of the total fund shares.
Meanwhile, as of March 31, the average stock position of all funds decreased by 4.75 percentage points compared to the end of last year, reaching 74.67%.
Despite no change in total volume, conversions between different fund assets have already begun.
Surprisingly, the share of equity funds remained relatively stable, with an average net redemption ratio of only 0.09%. The total share at the end of the period was 124.7366 billion, with a slight net redemption of 1.097 billion shares.