|By ACN Newswire||
|January 12, 2014 09:16 PM EST||
The ranking for the "Top 100 institutions in China Interbank Market RMB-denominated Transaction Volumes in 2013" was set up by the China Foreign Exchange Trade System from an audit of the transaction volumes of RMB-denominated trading activities among thousands of institutional members of the System last year. As an annual calculation on its statistics in trading turnover in interbank lending, collateralized repurchase, buyout repurchase, trading of securities in the spot market, asset backed securities, bond lending, bond forwards, interest rate swaps, forward rate agreements, and credit risk mitigation warrant among different members. In the OTC market which is based on the credits of companies and book building, the award enjoys higher credibility and recognition. A higher ranking indicates a more active and renowned role a company is playing in the interbank market, which will be favorable for obtaining or increasing credit.
Since 2008, the domestic fixed-income funds have developed rapidly, where large institutions have proven comprehensive strength in investment management by its transaction size and performance of its funds. According to the statistics of TX Investment Data, E Fund, the one which ranked the first among fund houses on the top 100 list, was the fourth largest company (the other three were Fullgoal, ICBC Credit Suisse and Penghua) in terms of the scale of management in bond funds (excluding capital preservation and short-term wealth-management) in the PRC as at the end of 2013. In the overall performance, the average yield of E Fund's bond aggregated to 11.84% from a three year track period which sets benchmark ranking in the top five among all the other 52 funds.
In 2013, E Fund's bond funds (excluding short-term wealth management) reached an average net growth rate of 1.34%, significantly outperformed an average yield of 0.13% in comparison to the other 272 bond funds within the same period (tier 1 data extracted from Galaxy Securities); E Fund's money market funds (including short-term wealth management) obtained an average yield of 4.51% for 2013, which also our performed the average yield of 3.92% compared with 85 other money market funds (tier 1 data extracted from Galaxy Securities).
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