China Alert – The crowded portfolio advisory sandbox

  • Ant, ChinaAMC, Fees, Mackenzie, Portfolio Advisory, Southern, Tiantian, Vanguard
The crowded portfolio advisory sandbox There are no clear winners yet. Fees and portfolio methodologies vary widely as platforms go after different client types. Key to uptake will be convincing retail investors of the value-add. Please note that full versions of our China Alerts are for clients only, if you would like more information about […]
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China Alert -Global appeal for China bond funds

  • BlackRock, Bond funds, Cathay SITE, CSOP, Eurizon, Fixed Income, Fuh Hwa, Pictet, Value Partners
Global appeal for China bond funds Greater China bond funds have added over USD7bn in assets this year through October. Relatively new faces have gained significant market share. While the lineup of offerings is developing, opportunities to fill product gaps remain. Please note that full versions of our China Alerts are for clients only, if […]
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China Alert – QDII: What about the banks?

  • BoC, Citi, HSBC, ICBC, JVs, outbound, QDII, Quota, Standard Chartered
QDII: What about the banks? Foreign participants continue to wield the most bank QDII quota. The latest top-ups demonstrate the program remains a low-level priority for domestic banks. For scale, budding wealth management joint ventures would need to muster greater outbound interest from their onshore partner. Please note that full versions of our China Alerts […]
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China Alert – Fidelity, Neuberger Berman and lessons learned

  • CSRC, Fidelity, FMCs, Neuberger Berman, Regulatory, WFOE
Fidelity, Neuberger Berman and lessons learned Recent regulatory disclosure has provided valuable insight into the fund management application process. Clearly, knowing what is required for an application goes beyond checking boxes. Theory in action is on display here in terms of the degree of agency given to local teams. Please note that full versions of […]
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China Alert – Bond funds stressed

  • Bond funds, Mutual Funds, Redemption, Regulators
Bond funds stressed The results of PBoC’s annual test of fund managers’ ability to withstand mass redemptions have been published. Certain fixed-income products have been cleaned up, but risks remain. The challenge remains plumbing the depths for yield amid a banner year for investor demand. Please note that full versions of our China Alerts are […]
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China Alert – AUM leaderboard changes

  • Active equity, AEGON-Industrial, AUM, China Merchants, China Universal, Flows, FMCs, Fullgoal, Hongde, Invesco Great Wall, Mutual Funds, Penghua, Rankings, Zhong Ou
AUM leaderboard changes Onshore mutual fund industry ended 3Q20 with record AUM of USD2.6tr. Active equity was again the key driver of upward moves in the competitive rankings. Several managers have proved that it is not just new funds that are attracting flows. Please note that full versions of our China Alerts are for clients […]
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China Alert – Van Eck’s 25-year China journey

  • JVs, Shenyin Wanguo Securities, Van Eck, WFOE
Van Eck’s 25-year China journey What started in 1996 culminated in a formal fund management company application yesterday. On multiple fronts, the strategy has demonstrated a genuine, long-term commitment to China. The baton is now passed to the experienced Shanghai team to effectively execute on these long-developed plans. Please note that full versions of our […]
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China Alert – Mega-fund hero redemption arcs

  • Active equity, AUM, Franklin Templeton Sealand, Fundraising, JP Morgan, Redemption
Mega-fund hero redemption arcs 3Q20 brought the inevitable redemption from this year’s active equity launches. The cycle shows no signs of stopping with big-name launches in the fourth quarter. Fortunately, global managers in search of a different way have a few role models onshore. Please note that full versions of our China Alerts are for […]
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China Alert – A tectonic shift in China fund flows

  • Active equity, AUM, Fixed Income, Flows, Harvest, MMFs, onshore
A tectonic shift in China fund flows Third-quarter fund flows are revealing further dislocations in short-dated fixed income. At the firm level, the partial dataset suggests some bank-backed managers have been materially impacted. Flows continue to gravitate to active equity products, reflecting steady market demand. Please note that full versions of our China Alerts are […]
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China Alert – QDII: A grand(ish) reopening

  • Inbound, Liberalization, outbound, QDII, Quota
QDII: A grand(ish) reopening QDII quota allocations are set to ramp up over the next 12 months. The strong currency and persistent inbound flows are likely drivers. While new issuances are certainly welcome, they fall short of broader liberalization. Please note that full versions of our China Alerts are for clients only, if you would […]
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