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In 2006, the mutual fund industry in China developed rapidly, with assets almost doubling in value to $111 billion. Attracted by high returns, many inexperienced investors switched their savings to mutual funds and there was even “panic buying” when new funds were released. The fund industry in the United States developed rapidly during the early 1980s. Joe Mansueto, founder and CEO of Morningstar, U.S. leading provider of mutual fund research and ratings, believes there are many simi-larities between the current fund market in China and the U.S. fund market of 20 years ago. How will the fund market in China develop? How should Chinese investors invest rationally? In this interview with Money Journal, Joe Mansueto, using his years of experience in the U.S. fund industry, gave his insight into China’s fund mar-ket and his suggestions to Chinese investors.
In 2006, the mutual fund industry in China developed rapidly, with assets almost doubling in value to $ 111 billion. Attracted by high returns, many inexperienced investors switched their savings to mutual funds and there was even “panic buying” when new funds were released. The fund industry in the United States developed rapidly during the early 1980s. Joe Mansueto, founder and CEO of Morningstar, US leading provider of mutual fund research and ratings, believes there are many simi-larities between the current fund market in China and the US fund market of 20 years ago. How will the fund market in China develop? How should Chinese investors invest rationally? In this interview with Money Journal, Joe Mansueto, using his years of experience in the US fund industry, gave his insight into China’s fund mar-ket and his suggestions to Chinese investors.