BEIJING (Xinhua) -- The assets under management of IPO funds in China reached 26.79 trillion yuan (about 3.97 trillion US dollars) by the end of June, the latest data from the China Asset Management Association showed.

As of the end of June, a total of 10,010 IPO funds had been operated by 139 fund management companies, according to the association, an industry body supervised by the China Securities Regulatory Commission.

The data showed that the volume of closed funds amounted to nearly 3.27 trillion yuan, while the volume of open funds amounted to about 23.52 trillion yuan.

The association said that among the 139 fund management companies, 45 are foreign-funded and 94 are local.