AXA IM adds two staff to its China joint venture, while UBP strengthens its investment services team.
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AXA IM adds two staff to its China joint venture, while UBP strengthens its investment services team.
Despite rising name recognition, Sino-foreign asset management joint ventures are still playing catch-up with domestic players, according to a Broadridge Financial survey of brand perceptions.
Data from the Asset Management Association of China shows the latest rankings by firm and by asset class in the mainland’s onshore mutual fund market.
JP Morgan Asset Management intends to increase its stake in the joint venture China International Fund Management (CIFM) to a majority interest.
In a decade, global asset managers are expected to hold 25% of China’s mutual fund industry assets due to regulatory changes and the competitiveness of the foreign firms, according to a report by Shanghai-based consultancy firm Z-Ben Advisors.
Foreign asset management joint ventures in China did not escape the industry-wide outflow of capital from actively-managed mutual funds in 2017.
Seven of the world’s ten biggest asset managers have entered mainland China so far, by setting up an investment management wholly foreign owned enterprise (IM WFOE), according to a report by Shanghai-based Z-Ben Advisors.
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