Chinese mutual funds hit record performance highs in April, fueled by a 28% increase in the Shanghai 300 Index, Reuters reports.

Equity, bond and balanced funds all hit records, rising 21.5%, 16.07$ and 19.8%, respectively.

Overseas A-share funds, which buy stocks on the Shanghai and Shenzhen stock markets much like American Depository Receipts permit foreign investors to tap U.S. markets, returned an average of 17.44% in the month.

However, A-shares are trading at a widening discount, causing some trepidation among investors, as many of these stocks were trading at a premium of as much as 20% in January.

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