The value of assets managed by IPO funds in China reached 25.52 trillion yuan ($ 3.79 trillion) at the end of last April. The latest data from the China Asset Management Association, an industry body overseen by China’s Securities Regulator, show that as of the end of last month, a total of 9,761 IPO funds were operated by 138 fund management companies. In detail, the data shows that the volume of closed funds exceeded 3.15 trillion yuan and the volume of open funds exceeded 22.36 trillion yuan. The Chinese news agency Xinhua quoted the association as saying that “of the...