zbenmarketing, Author at Z-Ben Advisors

(China Alert) Mobile apps: The present of fund distribution

The launch of Alibaba’s Ant Fortune fund supermarket smartphone application (app) represents a major shift for e-firms; moving beyond MMFs and into the broader mutual fund (and investment) industry. Some FMCs are already moving to leverage online and mobile phone platforms, taking advantage of an opportunity that has come to China first. Z-Ben Advisors believes […]

(China Alert) MRF: The first movers

CSRC has finally revealed the product lodgings for Hong Kong managers wishing to sell into China under the Mutual Recognition of Funds (MRF) scheme. Nine products had been lodged as of August 7 between seven managers, by our estimates there are two notable omissions that may follow shortly. The Chinese regulator also clarified an up-to-six […]

(China Alert) FMC strategy: Keeping up with the Alibabas

AMAC’s July numbers show that China’s public mutual fund industry AUM dropped to RMB6.9tr, down 2.4% from end-2Q15. It should come as no surprise that equity and balanced funds suffered outflows due to market volatility. On the other hand, flows into MMFs reveal how investor behavior is changing in comparison to previous market downturns. Current […]

(China Alert) There will be reforms

Z-Ben Advisors holds the belief that SOE reform will accelerate on the Mainland regardless of recent volatility. Our view was reinforced when CSRC indicated further support for M&A activity last Friday. Indeed, it would appear to us that rumors of State Council targeting reform at the SOE-level before 2016 are all but confirmed. This will […]

Strategic Outlook July 2015

The Advent of 100% Control Chinese regulators have now formalized the possibility of 100% foreign (non-Chinese) ownership of an asset manager. This means that, for the first time, international firms with interest in the Mainland market will have options outside of the limiting joint-venture approach, which has been the primary avenue for past attempts at […]

China Mutual Fund Series 2Q15

For the first time, AMAC released figures for the whole mainland mutual fund industry: total AUM was RMB16tr (USD2.6tr) in Q2; of this, RMB2.9tr was in parent SA business and RMB6.1tr was in FMC subsidiary business. Total public mutual fund AUM grew 73% QoQ to RMB7.05tr (USD1.13tr), and we saw record-breaking fundraising of RMB887bn (USD142.6bn) […]

Strategic Outlook: June 2015

China ETFs – It’s complicated Navigating the waters of China ETFs China ETFs have seen a sudden reversal of fortune over the past six months as global investors attempt to profit from the resurging Chinese equities market. While flows in and out of these ETFs have been volatile, demand looks set to rise over the […]

Strategic Outlook April 2015

Barriers to RMB fixed-income access Walking through a newly opened gate Despite being among the largest debt markets in the world, China’s fixed income space commands a relatively limited amount of attention from the global investment community. Long-standing barriers to entry remain the oft-cited reason for hesitation by global players. The prospect of these barriers […]

China Mutual Fund Series 1Q15

Equity and balanced funds were the key drivers for mutual fund industry AUM growth in 1Q15, pushing the number to a historical high of RMB5.15tr(USD828bn). These two fund types also accounted for 79% of new fundraising, totaling a record-breaking RMB237bn (USD38bn) across 129 new products. Figures such as these were last seen in 2007 when […]

China Mutual Fund Series 4Q14

At the end of last year, China’s mutual fund industry AUM reached a record high – RMB6.95tr, split between RMB4.44tr public mutual fund AUM and RMB2.15tr non-core AUM. Capital appreciation, new product fundraising and organic inflows all contributed to growth among public mutual funds. The stock market continued to perform in Q4 following an uptick […]

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