Mutual Funds Archives - Z-Ben Advisors

China Mutual Fund Series: Quarterly Assessment – 3Q22

Distribution, Flows, FMC segregated accounts, FMC subsidiaries, FMCs, Fundraising, JVs, Market share, Mutual Funds, Products, Regulation

‘Nowhere to go but up’ seems to be the 3Q22 mantra. Even as overall AUM dipped slightly, the twin factors of four-year-low benchmark valuations and MMF yield compression conspired to turn investors to selective equity allocations. Not quite risk on, but a welcome outcome for certain managers. There are changes to industry sub-structure that portend […]

China International, Fidelity, JP Morgan, Manulife, Manulife Teda, Market Opening, Mutual Funds, Neuberger Berman

The expanding China universe CSRC approves two global managers in as many weeks. Neuberger Berman will proceed to operations ahead of earlier applicants. Additional approvals should follow after slight adjustments. Please note that full versions of our China Alert are for clients only, if you would like more information about a subscription please contact us: […]

Distribution, Flows, FMC segregated accounts, FMC subsidiaries, FMCs, Fundraising, JVs, Market share, Mutual Funds, Products, Regulation

It has not been an easy summer for the mutual fund industry. Fundraising for high-fee products collapsed in 2Q22, forcing managers to change course on product development. Some did so adeptly; most did not. Signs of a recovery have been few and far between in 3Q22, suggesting the situation may persist through this year. Not […]

Commercial pensions, Mutual Funds, pension

Working through the pension agenda Commercial pensions progress continues. Mutual funds are now in the inclusion framework. For fund managers, investor attention is key. Please note that full versions of our China Alert are for clients only, if you would like more information about a subscription please contact us: Tel: (+86 21) 6075 – 8163 […]

AUM, Distribution, ETFs, Flows, FMCs, Fundraising, JVs, Market share, Mutual Funds, pension, Products, Regulation, regulations

Markets drew a challenging start to 2022. An optimistic January quickly gave way to meager demand for both equity and fixed income products. New fundraising hit a three-year low. Many product development plans were aborted, but some managers were able to pivot to maintain some semblance of momentum. As firms contend with their respective hurdles, […]

Flows, Multi asset, Mutual Funds, Products

Multi-asset Playing catch-up With over 9,500 products in play, China’s mutual fund industry is quickly maturing. But to assess the real speed of development, any analysis needs to go beyond surface-level labeling to look at product design and manufacturing trends. This Strategic Outlook does that through the lens of multi-asset products. This Strategic Outlook takes […]

AEGON-Industrial, AUM, BOCOM Schroders, China Merchants, Mutual Funds, Penghua, Pension funds

Working through the pension agenda Onshore mutual fund AUM fell to USD3.9tr in 1Q22. Active equity outflows were not as severe as expected. Pressure could mount pending the course of market recovery. Please note that full versions of our China Alert are for clients only, if you would like more information about a subscription please […]

AUM, Bonds, Distribution, Fixed Income, FMCs, IFAs, JVs Fundraising, Market share, Mutual Funds, Products, Profitability

Recent months have been fraught with pessimism for the equity business. But fixed-income demand surged in 4Q21, and industry AUM rose yet again past RMB25.1tr. Industry profits in 2021 should be more than healthy. Early 2022 is bringing adjustments to distribution techniques and product strategies. Even as fundraising falters across the board, managers continue to […]

Active equity, AUM, ETFs, Fixed Income, Fundraising, Insurers, IPOs, JVs, Mutual Funds, Policy, QDII, Regulators, WFOE

This Dashboard will examine key developments onshore from the month of November, including: Banks vs. IFAs Prime money market funds November QDII quota issuance Investment advisory guidance Infrastructure REITs Aside from these key takeaways, we will also provide a quick analytical update on all sectors of the Chinese financial services industry. Please note that full […]

Active equity, AUM, Bond funds, Distribution, ETFs, Fixed Income, Flows, FMCs, FOFs, Fundraising, JVs, Market share, Mutual Funds, pension, Products, Regulation, Regulatory

Fixed-income products continued their streak from 2Q21, helping industry AUM to another high. This is not a new phenomenon, but this time, the drivers are different. These are undoubtedly difficult times for active equity lines, but some managers have persevered in collecting net inflows amid the morass. At the same time, competition among distributors is […]

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China Alert – First in not first out

China Alert – Ready for pension flows

Strategic Outlook: Multi-asset – April 2022

China Alert – 1Q22 flow recap

China Dashboard – December 2021