- asset management industry, AUM, China fund industry, Fixed Income, WFOE
Industry AUM rebounded in the third quarter, and we expect assets to hit RMB14tr by the end of the year. Fixed income products continued to dominate fundraising, but they may not much longer. Fund managers are particularly increasing efforts to differentiate themselves in a passive equity space that is just beginning to find some retail traction.
This issue of our quarterly fund industry update unpacks those trends and more, including new pressures on firm profitability. There are nearly 130 fund managers, 44 of which are joint ventures; 2020 should bring the first wholly foreign-owned domestic managers.
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