BEIJING, (Xinhua) -- Results of data released by the China Asset Management Association showed that the assets under management of IPO funds in China reached 27.29 trillion yuan (about 3.84 trillion US dollars) by the end of last August.

The figure was 231.9 billion yuan higher than the end of July, according to the association, an industry body overseen by China's securities regulator.

By the end of August, a total of 10,262 IPO funds had been operated by 140 fund management companies, said the association.

The data showed that the volume of closed funds reached nearly 3.25 trillion yuan, while the volume of open funds amounted to about 24.04 trillion yuan.

The association said that among the 140 fund management companies, 45 are foreign-funded and 95 are local.