The industry fund managed by Wuhan Optics Valley Industry Development Fund Management Co Ltd -- located in Optics Valley in Wuhan city in Central China's Hubei province -- made the top 50 list for best risk control of China's government guided funds in 2020.

That's according to the list, issued on July 19 at a summit on fund of funds (FOF) held in Shenzhen, a major city in South China's Guangdong province.

Officials said the fund management company, which is a resident of Optics Valley -- also known as the East Lake High-tech Development Zone -- relies on the zone's  industrial system and the comprehensive financial service capabilities of Optics Valley Financial Holdings Group, to create industrial investment fund brands that cater to local demand.

Currently, the company manages three FOFs -- the Optics Valley industry fund, venture capital guidance fund and talent venture capital fund.

Officials said the funds have reached a fund scale of over 50 billion yuan ($7.18 billion) and have invested in more than 500 projects. The industry fund covers the whole life cycle of start-up enterprises and leading international and domestic innovation businesses.

The ranking list released at the summit was put together by members of the China FOFs Alliance.

Zone officials said it comprehensively evaluated the risk control ability of the government-guided funds based on 21 characteristic indicators, such as their complete risk management systems and risk response mechanisms.