“The online roadshow is a replacement for the face-to-face event and it helps us continue to engage with clients under these special circumstances,” a Beijing-based spokesman for China Asset Management (China AMC) told FSA.
He said Zhang Hongtao, the firm’s managing director, and Zhao Xiaoguang, vice president of Tianfeng Securities, plan to introduce technology sector investment opportunities to clients today online.
“In the industry, we call ourselves the buy side and securities firms the sell side. Views from two different perspectives can give investors a more comprehensive understanding,” he added.
Between 24 and 28 February, China AMC intends to hold several events on Sina, a Chinese online platform which is also the owner of social media site Weibo.
The spokesman said both institutional and retail investors can participate.
“Recently we have launched a lot of products and we just transferred the offline events to online.”
The firm is promoting three technology ETFs: semiconductor, artificial intelligence and 5G technology. The first two are new products.
According to the spokesman, online interaction has been popular. For example, the live roadshow last Thursday on Yizhibo, a live stream platform, attracted 159,400 views which exceeded the platform’s limit of 100,000, he said.
Other asset managers which are promoting products online include Shenzhen-based Bosera Asset Management and China Southern, according to records from Yizhibo.
In fact, while most businesses in China have stalled due to the coronavirus, the country’s mutual fund industry continues to be resilient, with a number of new products attracting capital from investors, FSA previously reported.
Wealth management online
Separately, the temporary inability to engage in face-to-face meetings does not seem to stop mainland investors from acquiring financial knowledge.
Data from Alipay shows that since the Chinese New Year, nearly one million people have watched live streaming about wealth management on Alipay, and the number has increased 63.8% compared to the pre-holiday period.
“Among them, the post-1990s generation is the main force, accounting for nearly 40% and another 13% of the live broadcast audience is middle-aged and elderly, whose enthusiasm for learning wealth management is also high,” a spokesman for Ant Financial told FSA.
The volume of visits to Ant Fortune online has doubled, compared with figures before the holiday, according to the spokeman.
The virus has 77,150 confirmed cases in mainland China to date and 2,592 people have died in China, according to the latest report from China’s National Health Commission.
In Hong Kong, there are 74 confirmed cases including two deaths, Macau has ten cases and Taiwan has 28, including one death, the report added.
