China Mutual Fund Series: Quarterly Assessment – 4Q19

  • Competitive update, Fundraising, Institutional business, Products, Regulatory update
Mutual-fund industry AUM found a new historical high in 4Q19 of RMB14.6tr. Evolving growth drivers are the result of a major ongoing shift: declining MMFs are now below 50% of industry assets. Instead, demand for active equity continued to prove resilient in the face market volatility, while institutional demand persisted despite regulatory pressures. This China […]
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China Alert – The foreign firms taking on life insurance

  • insurance
The foreign firms taking on life insurance  Foreign-invested insurers have far outpaced industry-wide growth. Some are even beginning to build significant premium scale. As assets continue to grow, allocation maturity will not be far behind. Please note that full versions of our China Alerts are for clients only, if you would like more information about […]
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Strategic Outlook: Broadening investment markets

  • competition, Market Opening
Cross-industry competition Marketing opening is, of course, widening access for global firms to domestic industries; it’s also creating links among those same domestic industries. For fund managers, that means more direct competition from across financial sectors. This Strategic Outlook explores and weighs the impacts of this broader market-opening process as it gives global groups more […]
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China Dashboard – February 2020

  • Foreign Investment Flow, Monetary Policy, Money Market, Portfolio Advisory, US-China Trade Deal
This Dashboard will examine key developments onshore from the month of January, including: Supportive monetary policy enacted after Lunar New Year Money market fund AUM drops below 50% of industry total US-China trade deal settles on a number of financial-opening items Foreign investment inflow figures show significant increase Banks to debut portfolio advisory Aside from […]
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Strategic Outlook: The USD12tr opportunity

  • Competitive Make-up, Mutual Fund Outlook, Projected Growth
China mutual funds in 2030 New decade, new projections. 2020 will mark the beginning of global managers’ wholly-owned journey in the onshore public fund market. With that will come the next wave of industry development, driven by some familiar and some new forces. Macro: The interaction between demographic changes and economic conditions Micro: The effect […]
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China Dashboard – January 2020

  • insurance, trust sector
This Dashboard will examine key developments onshore from the month of December, including: New securities law finalized at Standing Committee Regulators waive inbound quotas and streamline back office processes Regulators issue guidance on distribution Steady progress towards PBoC’s 11-point plan Banking regulator drafts first product-level rules Aside from these key takeaways, we will also provide […]
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China Alert – Bank pension products – not so fast

  • onshore, pension scheme
Bank pension products – not so fast Recent reports of banks getting into the pension business may be overstated. Structuring suggests banks aren’t straying too far from their core competencies. Regardless, this adds another dynamic to onshore pension developments. Please note that full versions of our China Alerts are for clients only, if you would […]
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China Alert – ETFs: A 2019 review

  • ETF
ETFs: A 2019 review Equity ETFs grew quickly on the back of strong fundraising. Some managers made headway by aligning new products with demand. Heightened competition should permeate new areas of the business this year. Please note that full versions of our China Alerts are for clients only, if you would like more information about […]
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China Alert – The distribution sweet spot

  • Distribution
The distribution sweet spot Recent fundraising has attracted billions for active equity products. Managers have taken steps to capitalize on primary distribution channels and growing demand for such products. The real test for such managers will be the ability to retain assets. Please note that full versions of our China Alerts are for clients only, […]
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China Alert – Tianhong is up for sale (indirectly)

  • China fund industry, Fund Manager
Tianhong is up for sale (indirectly) A minority shareholder in China’s largest fund manager is on the auction block. Potential bidders have until the end of February to register their interest. Compared with recent transactions in the fund industry, the implied valuation of Tianhong comes in at the upper end. Please note that full versions […]
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