(China Alert) Chinese insurers in 2016: Fundamental changes begin

  • Insurers
·China’s insurance industry is beginning a year of reform ·Regulations coming into force in 2016 will push firms offshore ·Europe should be seen as blueprint for what’s to come from insurers Update: Chinese insurers are beginning a year-long process of significant structural change, the effects of which will be felt both at home and abroad. […]
Read More

(China Alert) MRF: Let the games begin

  • MRF
·Three global funds will soon launch in China via MRF ·MRF managers will face a challenging fundraising environment ·Key strategies can help firms achieve MRF success Update: Three mainland MRF funds launched in Hong Kong yesterday, and the three approved Hong Kong-domiciled global funds will imminently launch in the Mainland. Up to 14 more are […]
Read More

(China Alert) QDII: Evolve to survive

  • QDII
·Foreign participation in China’s trust industry is declining ·A host of new outbound programs better serve key investor demands ·QDII will become a more nuanced program over the next year Update: v this quota halt is only partially attributable to SAFE’s concerns over capital flight. The past 18 months have seen the launch of several new […]
Read More

Strategic Outlook: Integrating, not Emerging Part IV

Part IV: Competition, effective China strategies What are we doing about China? This question among global asset managers has moved from whether to go in, to how. Narratives of initial success or failure inevitably skew perceptions over the viability of operations, and this skew can be worsened by weak incentive planning. Z-Ben Advisors has identified […]
Read More

Z-Ben China Dashboard – December 2015

  • Banks, Brokerage, mutual fund, Trusts
An overview of the Chinese financial sector of December 2015 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. Key headlines include: Malaysia receiving RQFII quota, IMF adds RMB to SDR basket, and the first ever fine issued to a […]
Read More

(China Alert) Foreign firms exit China’s trust industry

  • trust
·Foreign participation in China’s trust industry is declining ·Capital requirements may force reevaluation of existing JVs ·Opportunities exist for new entrants with majority control Update: Z-Ben Advisors has observed that foreign shareholders are leaving their joint venture trusts in China. Two global financial institutions have exited their ventures entirely and another has had its stake […]
Read More

(China Alert) PFMs: China’s next mutual fund managers

  • PFMs
·Private fund managers are moving to acquire mutual fund licenses ·A fund management license opens the door to retail investors ·PFMs’ moves create a roadmap for global managers’ China strategy Update: Private fund managers (PFMs) are now attempting to make the transition into China’s mainstream fund management industry, and their actions are giving a surprisingly […]
Read More

(China Alert) China’s equity market circuit breaker

  • circuit breaker
·The CSI 300 circuit breaker will be active from January 1, 2016 ·15 min suspension for a 5% up or down move, full-day closure for 7% ·We believe this will cause long-term stability post-initial adjustment Update: A September draft regulation was confirmed last Friday, stipulating that China’s market circuit breaker will be active from January […]
Read More

(China Alert) China’s brokerage industry: New opportunities

  • Brokerage
·Domestic institutional demand for broker services is growing ·Prime brokerage will be a key business line for global firms in China ·Challenges for foreign firms remain but opportunities are emerging Update: Recent regulatory enforcement actions affecting major domestic brokerages and the announcement of HSBC‘s majority foreign-owned joint venture (JV) securities company have shone a light […]
Read More

(China Alert) SDR inclusion: Real and exploitable implications

  • rmb, SDR
·IMF SDR inclusion cements the RMB as a fixture in global markets ·First-movers will be best-positioned to capture structural change ·China’s reform agenda is becoming increasing irreversible Update: The IMF yesterday announced the RMB’s inclusion into the Special Drawing Rights (SDR) basket with a weighting of 10.9%. This move is of little surprise, understated magnitude […]
Read More
Login
Follow us