The figure was up 0.07 percent from April, according to the Asset Management Association of China.
The number of registered privately offered funds rose 0.37 percent from the previous month to 85,700 by the end of May.
Some 24,584 institutions managed those funds, down slightly by 0.06 percent from the previous month, the data showed.
Established in 2012, the association is a self-regulatory organization representing the mutual fund industry of China. Enditem