Global crisis wipes out 1.5tr yuan in Chinese investor wealth

The global financial crisis wiped out more than 1.5 trillion yuan in face value of 424 funds managed by 60 investment firms in 2008, data compiled by a leading investment research company has revealed.

The biggest losers were those funds that had invested in the domestic stock market, TX Investment Consulting stated.

Qualified domestic institutional investors (QDII), which invest in overseas stock markets, fared no better, posting a combined loss of 50.5 billion yuan last year, the research firm said.