Strategic Outlook: WFOE

  • foreign fund managers, Onshore business, WFOE
Goals and gambits Playing the WFOE right There are now more than 60 foreign managers with wholly-owned platforms onshore. But there remains a great deal of trepidation, internal conflict and uncertainty about how to proceed and grow. Competitive and regulatory ground is shifting – faster than most realize. These considerations need to be built into […]
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China Alert – Cost of entry to China’s fund industry

  • china fund, China fund industry, fund managers
Cost of entry to China’s fund industry The possibility of acquisition and consolidation in the fund management industry is rising. Few acquisition targets are to be found among the large, established fund managers. However, transactions on the lower end are increasing, giving us the approximate cost of a smaller company. Please note that full versions […]
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China Dashboard – June 2019

  • Bank wealth management, Baoshang Bank, capital markets, cross border, institutional targeting, PBoC, Private fund, private funds, tax scheme
This Dashboard will examine key developments onshore from the month of May, including: PBoC moves to calm the market after Baoshang Bank takeover Bank wealth management subsidiaries open their doors Private fund rules added to State Council 2019 schedule Inbound bond account management streamlined Insurers set to reap benefit of new tax incentives Aside from […]
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China Alert – Market opening further clarified

  • foreign firms, market
Market opening further clarified  This year’s Lujiazui Forum just gave market opening a new lease of life. Shareholding parity across entities still requires further clarification. Intent aside, significant follow-up is expected to crystalize the situation for foreign firms. Please note that full versions of our China Alerts are for clients only, if you would like […]
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China Mutual Fund Series: Quarterly Assessment – 1Q19

  • AUM, Mutual Fund Companies, mutual fund sector, Mutual Funds
A rebounding market in the first quarter of 2019 took mutual fund AUM to new highs. But organic flows revealed more layered results to fundraising and demand. In this quarterly update, Z-Ben Advisors reviews industry profitability in 2018 and the evolving dynamics of market concentration. As the dust from this latest boom settles, managers will […]
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China Alert – Committing capital to compete

  • capital, capital markets, IM WFOEs
Committing capital to compete Total registered capital for IM WFOEs has already increased by 11.3% in 2019. With business expansion picking up, we anticipate greater capital commitments. Large or more-frequent top-ups are due for those on track to convert to the full public-fund business. Please note that full versions of our China Alerts are for […]
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Strategic Outlook: China: Inbound flows

  • Distribution, Mutual Funds
Inbound flows The coming years Investment flows into China have picked up considerably in the last 18 months. Those months will surely be viewed as the trickle that preceded the stream as most work done has merely been preparatory. With this Strategic Outlook we devise a model to project inflows, year by year, to supplement […]
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China Alert – Behind the insurance asset management curtain

  • free trade zone, ownership, pilot scheme
Behind the insurance asset management curtain  Insurance asset managers have reported figures on their revenue, profit and AUM. While they have multiple product types in their arsenal, there remain stark gaps in the offerings. A wide gulf will likely persist between their capabilities and those of traditional fund managers. Please note that full versions of […]
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China Alert – Pension mutual funds march on

  • free trade zone, ownership, pilot scheme
Pension mutual funds march on Pension fundraising is starting to show a divide in investor preference. Large managers are leading the charge in filling product gaps. Generating demand could be a costly (but necessary) endeavor for fund managers. Please note that full versions of our China Alerts are for clients only, if you would like […]
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China Dashboard – May 2019

  • capital markets, cross border, institutional targeting, private funds
This Dashboard will examine key developments onshore from the month of April, including: Full ownership in Shanghai FTZ Pension infrastructure testing Tech funds capitalize on investor enthusiasm State Council lays out plans for pensions Fresh QDII quota Aside from these key takeaways, we will also provide a quick analytical update on all sectors of the […]
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