China Alert – Leader and laggard managers in 2020

  • AUM, BoC, Bosera, competition, E Fund, equity, First State Cinda, Fixed Income, Fundraising, GF, Harvest, Mutual Funds, Orient, Penghua, Ping An, Tianhong
Leader and laggard managers in 2020 Even excluding MMFs, the largest onshore managers are now at the centi-billion-dollar threshold. However, in some cases churn from older funds has eroded recent fundraising. The key question for all managers going into 2021 will be how to best calibrate product development efforts. Please note that full versions of […]
Read More

China Alert – China at twenty trillion

  • AUM, equity, Fixed Income, Mutual Funds
China at twenty trillion 2020 saw China mutual funds break several growth records. As well as equity, demand returned to previously out of favor asset classes in 4Q20. Flow data shows that fund churn remains a fundamental feature of the onshore industry. Please note that full versions of our China Alerts are for clients only, […]
Read More

China Alert – Another pension reform checkpoint

  • pension, PPF, Reform, SOEs
Another pension reform checkpoint The first round of equity transfers to the Public Pension Fund is complete. We expect it to act as a stop-gap to Pillar One funding constraints. Divestment, along with more impactful reforms, will be needed. Please note that full versions of our China Alerts are for clients only, if you would […]
Read More

China Alert – Shock and awe fundraising

  • Active equity, AUM, E Fund, Fundraising, Mutual Funds
Shock and awe fundraising New fund subscriptions in January now stand at USD57.8bn (RMB376.8bn). In pro-rata terms, investors received an average of 32% of pledged active equity orders as of January 19th, 2021. The growth of industry AUM this year looks to be far from over. Please note that full versions of our China Alerts […]
Read More

China Alert – A longer-term view of performance

  • ABC-CA, E Fund, First Seafront, Fullgoal, Invesco Great Wall, onsistency, Performance, Wanjia
A longer-term view of performance Evidence continues to mount that consistent outperformance can drive equity fund flows. Over five years, industry veterans and newly-cultivated talent alike have proven their worth. Finding consistency is vital to topping the charts. Please note that full versions of our China Alerts are for clients only, if you would like […]
Read More

China Alert – Fund hauls: 2020 in perspective

  • Active equity, Bond funds, E Fund, Fullgoal, Fundraising, GF, Invesco Great Wall, WFOE, Zhong Ou
Fund hauls: 2020 in perspective Year-end totals surpassed 2015 and 2019 fundraising peaks. Demand for active equity drove most of the year’s new fundraising. While the market upturn carries into 2021, some managers will strain to retain competitiveness. Please note that full versions of our China Alerts are for clients only, if you would like […]
Read More

China Alert – Fidelity and Neuberger Berman overdue?

  • AllianceBernstein, BlackRock, CSRC, Fidelity, FMCs, JP Morgan, Neuberger Berman, Regulatory, VanEck
Fidelity and Neuberger Berman overdue? Additional material from these managers is due and a status update may appear at CSRC in the next few days. Regulatory feedback mostly centered on internal processes rather than broader issues. Extensions are not uncommon in onshore regulatory review proceedings, but there are clear benefits to expedience. Please note that […]
Read More

China Alert – Filling in bank wealth regulation gaps

  • BWMPs, Distribution, Mutual Funds, regulations
Filling in bank wealth regulation gaps New bank wealth management rules put the point of sale in the crosshairs. Key differences should be taken as a good sign for mutual fund managers. While still not finalized, it gives insight into perceived growth drivers. Please note that full versions of our China Alerts are for clients […]
Read More

China Alert – New JV – new product – old tactics

  • Amundi-BOC, BoC, BWMPs, Fixed Income, JVs
New JV – new product – old tactics Amundi-BOC WM has opened subscriptions for its first product. Marketing material online touts this as another fixed income plus offering. Fundraising results later this week or early next will be revealing. Please note that full versions of our China Alerts are for clients only, if you would […]
Read More

China Alert – Opportunities in onshore credit

  • Defaults, Huatai, Jiangxin, Mutual Funds, Nikko, onshore, PICC, Redemption, Rongtong
Opportunities in onshore credit Several large corporate defaults have spooked onshore credit markets. The impact has been felt by bond fund investors through NAV write-downs. Incoming global managers’ fixed income risk management capabilities are well-suited to fill gaps that remains in the onshore space. Please note that full versions of our China Alerts are for […]
Read More
Login
Follow us