Investment funds in China show prudent behavior, avoid risky securities.
The study looked at how investment funds in China make decisions about buying and selling stocks. They found that at the end of 2002, the funds were being careful with their investments. The researchers used data from the funds' reports to see how they behaved. They discovered that the funds were less likely to buy or sell certain stocks when their prices were very high or very low. This shows that the funds were trying to make smart choices with their investments.