Money Market Funds Shrink as Big Players Have Change of Heart

(Beijing) — The combined size of money market funds in China shrank for the third month in a row in November and is expected to fall further in December as investors seek higher yields and lower risk in what has become a volatile market.

The total net asset value of money market funds in China stood at 3.9 trillion yuan ($561 billion) at the end of November, down about 269 billion yuan from the previous month, according to data released Wednesday by the Asset Management Association, a government-backed industry group.