(China Alert) A target on your back

  • joint venture
-M&A activity in China’s financial industry is moving offshore -Global managers may soon find themselves as targets of Chinese takeovers Update: M&A activity in the Chinese asset management business has been heating up recently, mainly driven by financial conglomerates. So far, global managers have been passive players, with stakes in certain joint ventures (JVs) changing […]
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(China Alert) What you talkin’ bout Willis?

  • ranking
-Willis Towers Watson’s Global 500 ranked 34 Chinese managers -We believe 147 should make the cut -Omissions veil real opportunity in China Update: Z-Ben Advisors knows that understanding and sizing China is a difficult task – we’ve been doing it for 12 years. We appreciate Willis Towers Watson including Chinese managers in its recent ranking […]
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(China Alert) Mutual fund go-getters and no-getters

  • Mutual Funds
-Institutional mandates boosted competitiveness for large firms -Niche products were the preserve of some smaller firms, helping them to jump up the rankings -Competitive decisions made by FMCs onshore are a roadmap for new foreign and domestic entrants Update: Yesterday, we analyzed the high-level trends in the mutual fund industry; today, we take a closer […]
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(China Alert) Q3 public mutual funds: Jack be nimble, Jack be quick

  • mutual fund
-The mutual fund industry continued to grow in 3Q16 -Institutional capital flowed into purpose-built fixed income products Update: Growing 10.7% over the quarter to RMB8.75tr (USD1.3tr), China’s public mutual fund industry shows no sign of slowing down this year. This is even in light of recent regulatory restrictions on certain product types. Some managers are […]
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(China Alert) Turnover among ChinaAMC’s shareholders

-Two minority shareholders sell out of ChinaAMC for RMB4.3bn (USD630m) -Expectations now rising for more corporate actions (especially among JVs) during 2017 Update: In the latest example of Chinese corporate actions heating up on all fronts, ChinaAMC – the third-largest manager onshore – announced a shareholder change over the weekend that will see 17.8% change […]
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Strategic Outlook: Chinese pension reform: Defining the benefits

  • pension
Defining the benefits Z-Ben Advisors believes any manager that views anytime other than now as the ideal point to enter the Chinese pension market is in for a rude awakening. The conveyor belt of pension reform on the Mainland is bringing addressable assets to global managers at an unprecedented pace. This report maps the likely […]
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(China Alert) MRF: Success demands coordination

  • MRF
-A significant decrease in MRF flows in September was due in part to a deliberate decision -MRF managers must focus on product rollout strategies and domestic agent choice Update: What a difference a single month can make. Net northbound MRF flows slowed significantly in September, from the RMB4bn a month earlier to September’s RMB560m. What […]
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(China Alert) Pension reform: License and registration please

-Regulators updated pension reform progress during their Q3 press conference -Z-Ben Advisors expects the first round of pension mandates to be issued this year -License reform will be key to global managers targeting a slice of the assets Update: Managers can now almost taste the Chinese pension mandates as regulators make significant progress towards reforms […]
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China Dashboard October 2016

  • FOF
An overview of the Chinese financial sector of September 2016 that covers topics including: fund flows, regulatory updates, cross border activities, capital markets, insurance sector, mutual fund sector, banks, trust sector, brokerage sector and private (hedge) funds. These updates are further broken down by our analysis and data. In this month’s dashboard, we cover Vanguard’s initial […]
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(China Alert) The last bastion of fee-rich funds

-China appears to have ignored the global fee squeeze -High costs aren’t much of a consideration for investors, so long as they get a positive return -This raises questions as to how foreign ETF managers will compete onshore Update: Global asset management is facing a price war amid a lack of interest in actively-managed funds. […]
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