China Alert – Who is holding your chops?

  • WFOE
Who is holding your chops? A flurry of management changes has accompanied heightened WFOE activity. Industry experience suggests merging the two key roles can be problematic. Key-person stability is vital for internal alignment of a China strategy. Please note that full versions of our China Alerts are for clients only, if you would like more […]
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China Mutual Fund Series: Quarterly Assessment – 3Q19

  • asset management industry, AUM, China fund industry, Fixed Income, WFOE
Industry AUM rebounded in the third quarter, and we expect assets to hit RMB14tr by the end of the year. Fixed income products continued to dominate fundraising, but they may not much longer. Fund managers are particularly increasing efforts to differentiate themselves in a passive equity space that is just beginning to find some retail […]
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China Dashboard – October 2019

  • Bank wealth management, QFII, regulator, RQFII, WFOE
This Dashboard will examine key developments onshore from the month of September, including: Full foreign ownership dates set Regulator removes R/QFII quotas Securities regulator’s 12 capital market priorities Timeline confirmed for SOE asset-transfers Rules drafted for bank wealth management net capital Aside from these key takeaways, we will also provide a quick analytical update on […]
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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 – 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%: The art of contingency planning

  • 100%, WFOE
100%: The art of contingency planning    There is some hyperbole surrounding the new market opening timeline. Outcomes will be determined by the degree to which a global manager can flexibly execute. An assessment of the business risks must be properly balanced against the expected return. Please note that full versions of our China Alerts […]
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Strategic Outlook: WFOE

  • foreign fund managers, Onshore business, WFOE
Goals and gambits Playing the WFOE right There are now more than 60 foreign managers with wholly-owned platforms onshore. But there remains a great deal of trepidation, internal conflict and uncertainty about how to proceed and grow. Competitive and regulatory ground is shifting – faster than most realize. These considerations need to be built into […]
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China Alert – What sub-advisory is and isn’t

  • foreign fund managers, private funds, WFOE
What sub-advisory is and isn’t Recent approvals have led to some confusion over global managers’ onshore opportunity set. This sub-advisory qualification should be pursued by all investment WFOEs, as it offers an advisory add-on to the private fund product business. It marks yet another route for foreign managers to compete domestically. Please note that full […]
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China Alert: The HQ platform emerges

  • WFOE
Full versions of our China Alerts are for clients only, if you would like more information about a subscription please contact us: Tel: (+86 21) 6075 – 8163 Email: [email protected] For a sample of this publication please login to access the download: [cmdm id=4976]  
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(China Alert) WFOE PFMs: What everyone is asking

  • WFOE
-Regulations have only provided clarity on initial registration. -Global managers must consider a broad base of regulations and guidelines to discern what is feasible. Update: Now that global managers can enter the private fund industry in China, attention is turning to how to actually set up and raise money. While registration with the industry body […]
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