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While individual investors lament losses in the first half of the year, fund managers are surprisingly celebrating gains.
Statistics show that 661 funds managed by 60 companies lost about 44 billion yuan in the first half. However, the funds have charged a combined management fee of about 15 billion yuan.
That's an almost 20 percent increase from the same period last year. This fee has become a major source of their profits. Experts say a larger client base has contributed to year-on-year growth.