China Alert – Private fund fast-track

  • global managers, Private fund, strategy
Private fund fast-track Among global managers in China, standouts can be found in perhaps unlikely places. Consistent asset gathering is a running theme among this group. Longer term, greater localization will be needed as strategies evolve. Please note that full versions of our China Alerts are for clients only, if you would like more information […]
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China Alert – Onshore fixed income going mainstream

  • Fixed Income, fund managers, Onshore business
Onshore fixed income going mainstream Short- and longer-term trends both point to greater demand for RMB fixed income. As of yet, global public offerings remain limited. Managers will need to keep pace with developments in order to address impending flows. Please note that full versions of our China Alerts are for clients only, if you […]
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China Alert – Profitability hits and misses

  • fund managers
Profitability hits and misses  Fund management profitability looks set to rebound in 2H19. Once again, there was a notable split between the top-tier and the rest in the first half. Managers have evidenced that short-term pushes and long-term plans can both generate success. Please note that full versions of our China Alerts are for clients […]
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China Alert – Fund flows: not only institutions

  • Distribution, fund flows, institutional investor
Fund flows: not only institutions Institutions edged closer to 50% of mutual fund AUM in 1H19. A small number of managers dominated retail flows. Distribution choices continue to define competitiveness. Please note that full versions of our China Alerts are for clients only, if you would like more information about a subscription please contact us: […]
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China Alert – The WFOE conversion calculation

  • China joint venture, mutual fund, WFOE
The WFOE conversion calculation  Several WFOEs have their eyes firmly on a mutual fund license. Existing joint ventures complicate the matter for some. Early preparations are in place but work still needs to be done to ensure a successful transition. Please note that full versions of our China Alerts are for clients only, if you […]
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China Alert – New options, old priorities

  • mutual fund, Onshore business
New options, old priorities    The latest market opening timetable is raising questions around onshore business classifications. The entire investment management landscape is now accessible, beyond just mutual funds. For most global firms, China business priorities should remain unchanged. Please note that full versions of our China Alerts are for clients only, if you would […]
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China Alert – Quantity and quality clash on distribution

  • Distribution, distributors, IFAs, mutual fund sector
Quantity and quality clash on distribution      Mutual fund subscriptions increased 13% in 2018, but there’s more to the story. While the bank channel grows, rising IFAs are cementing their role with new tactics. For investors to truly benefit, distributors will need to begin shifting priorities to quality flows. Please note that full versions […]
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China Alert – Legacy pension program outperforms

  • pension
Legacy pension program outperforms     Look at Pillar I and you’ll find two different growth stories. The opportunity set will crystalize for managers in the coming years. As reforms putter along, potential energy is gathering for defined contribution flows. Please note that full versions of our China Alerts are for clients only, if you […]
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China Alert – 100% – Different paths

  • 100%, China ownership, Risk, WFOE
100% – Different paths    Another Friday evening announcement attempted to clarify market opening for global managers. Previous regulatory statements focused on the joint venture path, while the latest addresses the WFOE route. The choice for each manager will determine which set of rules apply, and overall speed of the process. Please note that full […]
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China Alert – 100% – It’s about risk and reward, stupid

  • 100%, China ownership, Risk
100% – It’s about risk and reward, stupid   The “China is too risky” narrative has just been ratcheted up a few notches. Risks, yes, but case analysis shows unequivocally that returns can more than compensate. When modeling for China, return projections need to be as aggressive as the risk parameters. Please note that full […]
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