Mutual Fund Total Scale Ends 11-Month Growth Streak: Equity and Hybrid Funds See Outflows as Bond Funds Attract Capital

On April 22, the Asset Management Association of China released the latest data on the mutual fund market. The data shows that as of the end of March 2026, there were 165 domestic mutual fund management institutions in China, including 150 fund management companies and 15 asset management institutions with public offering qualifications. These institutions managed a total net asset value of 37.53 trillion yuan for mutual funds, representing a 2.78% month-over-month decrease from the 38.61 trillion yuan recorded at the end of February 2026. Since April 2025, the total scale of mutual funds had continuously hit new historical highs for 11 consecutive months; this month-over-month decline marks the first contraction in nearly a year.