China’s QDII funds turn losses to gains in Q3

China’s Qualified Domestic Institutional Investors (QDII) funds posted surging profits during the third quarter of the year, sweeping aside grim investor sentiment that resulted from huge losses in the April-June period. China’s QDII funds saw their profits jumping to 3.51 billion yuan (557.05 million U.S. dollars) in the third quarter, representing a substantial rise from the 4.08-billion-yuan loss seen in the previous quarter, data from TX Investment Consulting showed. Haitong Securities, attributed the funds’ improved performance to easing monetary policies in the U.S. and European markets and the economic bailout programs initiated by Western governments.