Managed funds in China to grow 1,000%

Independent research group Matrix Services has conducted a survey of China's funds industry that calculates professionally managed assets now total $168 billion, a figure that could rise by a factor of 10 in seven years. The biggest chunk comes from life insurance companies, accounting for $88 billion of assets, with pensions (including pillars one and two of the unified pension scheme and the National Social Security Fund) at $60 billion and the mutual funds business at $20 billion.…