China's privately offered funds expand

BEIJING — China's privately offered funds managed 15.12 trillion yuan (about $2.27 trillion) at the end of September, up 0.6 percent from the end of August, industry data showed.

The number of registered privately offered funds came in at 91,809 at the end of last month, according to the Asset Management Association of China.

Some 24,480 institutions managed those funds, up 0.13 percent from the previous month, the data showed.

Established in 2012, the association is a self-regulatory body of China's mutual fund industry.