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Top related persons:
Kim Coghill - 2 Thomas Peter HONG - 1 Jiao Jinyuan - 1 Zhang Kun - 1 Zhang - 1 Ge Lan - 1 Emily Gao - 1 Steve Chen - 1
Top related locs:
China Beijing Thomas Peter HONG KONG Guangzhou Shanghai HONG KONG Greater China New York
Top related orgs:
Thomson - 2 REUTERS - 1 Z - 1 Ben Advisors - 1 CSI - 1 China Asset Management - 1 Star - 1 E Fund Management - 1

Search resuls for: "China Fund Management"


4 mentions found


☆ China mutual fund sales dry up amid market gloom
  + stars: | 2023-06-09 | by ( Summer Zhen Samuel Shen | Summer Zhen | Samuel Shen | ) www.reuters.com   time to read: +4 min
Star fund manager Zhang Kun, who manages nearly 90 billion yuan for Guangzhou-based E Fund Management, has seen his flagship 56 billion yuan Blue Chip Selected Mixed Fund lose 8% so far this year. The fund soared 95% in 2020 which attracted significant subscriptions and helped Zhang become China's first so-called "100 billion fund manager". Another high profile fund manager, Ge Lan at Lombarda China Fund Management, saw her flagship 28 billion yuan healthcare fund retreat 7% in 2021 and 23% in 2022, after a nearly 100% gain in 2020. "Not just mutual funds, the overall fund issuance is difficult, as this is closely connected with the economic situation," Steve Chen, partner of Shanghai-based hedge fund manager MX Capital. To boost market sentiment, some mutual funds announced fee cuts or started to purchase their own fund shares recently.
Persons: Thomas Peter HONG, Jiao Jinyuan, Zhang Kun, Zhang, Ge Lan, Emily Gao, Steve Chen, Debbie Dai, Dai, China Asset’s Jiao, Summer Zhen, Sumeet Chatterjee, Kim Coghill Organizations: REUTERS, Z, Ben Advisors, CSI, China Asset Management, Star, E Fund Management, China Fund Management, MX Capital, Thomson Locations: Beijing, China, Thomas Peter HONG KONG, Guangzhou, Shanghai
☆ BlackRock's China head Tang leaving the company
  + stars: | 2023-06-06 | by ( Selena Li | ) www.reuters.com   time to read: +1 min
HONG KONG, June 6 (Reuters) - BlackRock Inc's (BLK.N) head of China business, Tony Tang, is leaving the asset manager, the company said on Tuesday, after having played a key role in expanding operations in the world's second-largest economy. Susan Chan, BlackRock's deputy head of Asia Pacific and head of Greater China, is now directly overseeing its China onshore business, the company said. "China represents a significant opportunity for BlackRock to contribute to the financial futures of a new generation of investors," the company said. Tang, a former Chinese securities regulatory official, started as BlackRock's China business head in 2019, and has been one of the top aides to CEO Larry Fink. During Tang's tenure as China head, BlackRock established a wholly-owned China fund management unit and a joint venture with China Construction Bank and Temasek offering wealth management services to Chinese investors.
Persons: Tony Tang, Tang, Susan Chan, BlackRock's, Chan, Larry Fink, Selena Li, Kim Coghill, Edmund Klamann Organizations: BlackRock, Asia Pacific, China Construction Bank, Temasek, Thomson Locations: HONG KONG, China, Greater China, New York
☆ HSBC reaches deal to buy out China fund partner, Reuters reports
  + stars: | 2023-05-09 | by ( ) www.cnbc.com   time to read: +1 min
HSBC has agreed to buy out its China fund management joint venture partner, two people familiar with the matter said, as the Asia-focused bank pushes ahead with expansion in the world's second-largest economy. HSBC, which currently owns a 49% stake in HSBC Jintrust Fund Management, has signed an agreement with Shanxi Trust under which the Chinese state-owned company will sell its 51% holding in the joint venture to the bank, said the sources. If approved, Europe's biggest bank by assets, which makes the bulk of its revenue and profit in Asia, will expand its presence in the $3.8 trillion fund management market in China. Representatives for Shanghai-headquartered HSBC Jintrust and Shanxi Trust did not immediately respond to a request for comment. HSBC's move to boost its stake in the fund venture is the lender's latest to expand its presence in China.
☆ Exclusive: HSBC reaches deal to buy out China fund partner -sources
  + stars: | 2023-05-08 | by ( Selena Li | ) www.reuters.com   time to read: +2 min
HONG KONG, May 8 (Reuters) - HSBC (HSBA.L) has agreed to buy out its China fund management joint venture partner, two people familiar with the matter said, as the Asia-focused bank pushes ahead with expansion in the world's second-largest economy. HSBC, which currently owns a 49% stake in HSBC Jintrust Fund Management, has signed an agreement with Shanxi Trust under which the Chinese state-owned company will sell its 51% holding in the joint venture to the bank, said the sources. Representatives for Shanghai-headquartered HSBC Jintrust and Shanxi Trust did not immediately respond to a request for comment. HSBC's move to boost its stake in the fund venture is the lender's latest to expand its presence in China. The London-headquartered bank converted its China insurance joint venture to a wholly-owned subsidiary in 2021, and boosted ownership of its China securities joint venture to 90% last year.
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