Top Biz News

Fund continues despite market bloodletting

By Liu Jie (Xinhua)
Updated: 2007-03-01 16:50

The frenzy has added mounting jitters to fund managers who run the massive stockpile for the millions of punters. "As a rational investor, we find limited satisfying objects worth investing", said Li Xuli, investment director of the Bank of Communications Schoroder Fund Management Co.

"I fought to get to sleep every night fearing big market tumbles to bring down profits, and it is the most tricky time in my eight years of career", Li spoke up his mind.

The benchmark Shanghai Composite Index plummeted 8.84 percent to close at 2,771.79 points earlier this week partly on profit-taking, the biggest daily dive since February 18 in 1997 when the index dropped 8.91 percent.

Fund managers suggest investors engage in long-term investment, while warning of speculative activities only after hearing of other people making money.