China Dashboard – November 2021

  • AUM, Brokers, ETFs, Insurers, Mutual Funds, Regulators, Stock Connect, Wealth Management Connect, WFOE
This Dashboard will examine key developments onshore from the month of October, including: Mutual fund AUM growth Expanded derivatives toolkit Interest income tax waiver extended to 2025 Supervision on cross-border data transfer Property tax development Aside from these key takeaways, we will also provide a quick analytical update on all sectors of the Chinese financial […]
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China Dashboard – October 2021

  • Commercial pensions, ETFs, FOFs, Market entry, Mutual Funds, onshore, pension, Pension reform, regulations, Wealth Management Connect, WFOE
This Dashboard will examine key developments onshore from the month of September, including: FMC application activity revives Revised asset management accounting framework Provincial authorities engage on retirement age adjustment Beijing Stock Exchange unveiled Wealth Management Connect rules in place Aside from these key takeaways, we will also provide a quick analytical update on all sectors […]
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China Alert – Time out, Vanguard

  • Ant, BlackRock, JVs, Licenses, Mutual Funds, onshore, Vanguard, WFOE
Time out, Vanguard The manager has changed course regarding the onshore market. With its Asia HQ moving to Shanghai, China is far from off the table. This case-specific decision should not be the basis for others to rewrite their plans. Please note that full versions of our China Alert are for clients only, if you […]
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China Dashboard – March 2021

  • AUM, Brokerage, BWMPs, Fundraising, JVs, Mutual Funds, outbound, pension, WFOE
This Dashboard will examine key developments onshore from the month of February, including: MoHRSS pension commentary Interest builds around further outbound upgrades Foreign holdings top USD1tr Producer inflation outpaces consumption Global groups target multiple market entry points Aside from these key takeaways, we will also provide a quick analytical update on all sectors of the […]
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China Mutual Fund Series: Quarterly Assessment – 4Q20

  • Active equity, AUM, equity, Fixed Income, Fundraising, Mutual Funds, regulations
The year 2020 finally passed, but industry trends march on. Mutual fund AUM continues to hit new highs as fixed-income and equity managers alike rode buoyant new fundraising. Something lurks: possible corrections will test manager’s newfound direct-to-client strategies and separate those with balanced businesses from those that narrowly advanced in 2020. In this edition of […]
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China Dashboard – February 2021

  • AUM, BWMPs, FMCs, Greater China, JVs, MRF, Mutual Funds, pension, QDII, Retail investors, WFOE
This Dashboard will examine key developments onshore from the month of January, including: CSRC takes more direct role in private funds PPF completes first round of SOE asset transfers Foreign groups gain access to pensions and insurance New fundraising lifts industry AUM to all-time highs First QDII quota issuance of 2021 Aside from these key […]
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Strategic Outlook: Group-think January 2021

  • BNP Paribas, BWMPs, CITIC, HSBC, Huatai, insurance, JVs, Licenses, Mutual Funds, ownership, Prudential, Taikang
Group-think Multiple China approaches Market opening continued apace in 2020, and foreign groups will soon operate their own fund management companies. At the same time, a wider array of entities will be able to access the mutual fund license, forcing commitment about the best way forward. That path forward will depend on each group’s existing […]
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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 […]
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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, […]
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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 […]
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