Despite a relaxation of foreign ownership rules, Chinese partners are expected to retain the majority stake in joint ventures because China’s asset management business is lucrative, said Ye Kangting, analyst at Cerulli Associates in Singapore.
Tag: ICBC Credit Suisse Asset Management
ICBC Credit Suisse loses half of onshore assets
The joint venture between Credit Suisse and Industrial and Commercial Bank of China has lost its place as the largest onshore asset manager, according to the Asset Management Association of China (Amac).
Insider trading at ICBC Credit Suisse
Former deputy head of trading at ICBC Credit Suisse Asset Management, Wu Tuofu, has been charged with insider trading, according to China’s state-run broadcaster CCTV.
Foreign fund distributors in China prefer WFOEs to JVs
Wholly-foreign owned enterprises (WFOEs) in China have advantages over joint ventures (JVs) with mainland banks in onshore fund distribution, argue asset managers from Blackrock, Value Partners and ICBC Credit Suisse at the Fund Forum Asia 2017.
ICBC and Wisdomtree plan China ETF launch
ICBC Credit Suisse Asset Management (International) and Wisdomtree Investments plan to a European launch of an ETF tracking the S&P China 500 Index.