(Yicai) May 20 -- Some 8,824 mutual funds in China, or just over 74 percent of the total, have been profitable since the start of the year, according to a new report.

The profit of 152 mutual funds was over 20 percent as of yesterday, Securities Daily reported today, citing figures from data provider Wind Information. China Asset Management's exchange-traded funds tracking index compiler China Securities Index's Shanghai-Shenzhen-Hong Kong Gold Industry Stock Index ranked first with 40.8 percent.

Maxwealth CSI SH-SZ-HK Gold Industry Equity ETF Fund was second with a profit of 32.3 percent, while Maxwealth Fund Management ETF's feeder fund A ranked third with 31.6 percent.

Mutual funds related to manufacturing and mining industries were the most lucrative, the data showed. The China Asset Management's ETF tracking CSI's SH-SZ-HK Gold Industry Stock Index allocated 60.5 percent of its net assets value to the mining sector and 15.3 percent to the manufacturing, followed by the materials and wholesale and retail industries, according to its first-quarter earnings report. 

China Southern Asset Management's Southern Development Opportunity One-Year Holding Hybrid A, which had a profit of over 30 percent, also had the manufacturing and mining sectors as the two major areas for allocating assets. According to its financial report last quarter, the net asset value of the manufacturing and mining industries accounts for 53.8 percent and 15.8 percent, respectively.

The fundraising capabilities of mutual funds are also increasing. They have brought over CNY420 billion (USD58.1 billion) of funds to the market since the start of the year as of yesterday, compared with CNY404.8 billion a year ago. There are also 87 new funds at the issuance stage, which will likely bring almost CNY250 billion.

The Shanghai Composite Index closed up 6 percent at 3154.03 points on May 17, while the Shenzhen Component Index ended 1.9 percent higher at 9709.42 points.

Editor: Martin Kadiev