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Today’s China Top Five: 💡 𝗠𝘂𝘁𝘂𝗮𝗹 𝗙𝘂𝗻𝗱𝘀 | 𝗙𝗼𝗿𝗲𝗶𝗴𝗻-𝗼𝘄𝗻𝗲𝗱 𝗠𝗮𝗻𝗮𝗴𝗲𝗿𝘀 In 3Q24, BlackRock (China) AUM surpassed RMB5bn, recovering from RMB3.6bn in 2Q24, on the back of new fund issuances. Fidelity (China) also saw a slight increase, reaching RMB6.4bn, while others like Neuberger Berman (China) and Schroders (China) experienced declines. 💡 𝗤𝘂𝗮𝗿𝘁𝗲𝗿𝗹𝘆 𝗥𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴 | 𝗔𝗺𝘂𝗻𝗱𝗶 Amundi reported EUR1.7bn inflows from China outside of its two joint ventures in the first nine months of 2024, largely from institutional clients. The Amundi BOC WM joint venture posted net outflows of EUR0.7bn in 3Q24, taking AUM to EUR3bn. 💡 𝗔𝗻𝗻𝗶𝘃𝗲𝗿𝘀𝗮𝗿𝘆 | 𝗖𝗵𝗶𝗡𝗲𝘅𝘁 October 30 marks the 15th anniversary of the ChiNext Board. Since the first ChiNext ETF launched in 2011, AUM for ChiNext Index products have grown to a total of RMB180bn. Notably, the E Fund ChiNext ETF has seen inflows of more than RMB40bn this year to take AUM beyond RMB130bn. 💡 𝗣𝗿𝗼𝗽𝗿𝗶𝗲𝘁𝗮𝗿𝘆 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁𝘀 | 𝗙𝘂𝗻𝗱 𝗠𝗮𝗻𝗮𝗴𝗲𝗿𝘀  Several fund companies announced substantial proprietary investments in their CSI A500 Index-related funds. INVESCO Greatwall Fund Management Co. plans to invest RMB15m, and China Asset Management Co., Ltd. intends to invest no less than RMB30m. Southern, Bosera, China Merchants Fund, and Harvest have also made similar announcements. 💡 𝗣𝗮𝘀𝘀𝗶𝘃𝗲 𝗘𝗾𝘂𝗶𝘁𝘆 | 𝗕𝗮𝗻𝗸 𝗗𝗶𝘀𝘁𝗿𝗶𝗯𝘂𝘁𝗶𝗼𝗻 Amid decreased interest in actively managed funds, banks are turning their focus to index products. Banks view the current index fund trend as an opportunity to grow fee-based wealth management services, seeking to add value beyond traditional deposit products.   #chinatopfive #zbenadvisors #assetmanagement #mutualfunds #ETFs #china #financialnews

On 6 Feb 2024, China sovereign fund (Huijin) disclosed that it has increased equity ETF holdings again in recent days (started buy ETFs in Oct 2023), and plan to buy more and cover wider range of equity ETFs. This is part of the government efforts to stabilize China equity market, which has previously experienced liquidity crunch due to margin calls, quant fund hedging activities and investor panics. Total net subscription increased 129 billion units YTD 2024 (61 bn for Jan 2024, 68 bn for 1-23 Feb 2024), the Shanghai and Shenzhen Exchange stock indices dropped then made V shape recovery during the same period. #investing #ChinaAshares #ChinaEquityMarket

Max Lan, our head of ETF Investment, featured on Bloomberg's panel "What are investment opportunities in 2024?" Max talked about the global market trends, noting the robust performance of #Japan equity #ETFs, underpinned by Japan's solid economic showing last year —a trend likely to continue. As for China, Max identified the growth potential in China's stock market, suggesting that a market turnaround could be on the horizon, driven by a few key investment themes that investors should watch closely. #ChinaAMCHK #ETF #investment #stockmarket #chinamarket #equity #hongkong Investment involves risks, including possible loss of principal. The information contained herein is for informational purposes only and does not constitute an offer or invitation to anyone to invest in any funds and has not been prepared in connection with any such offer. The material has been prepared and issued by China Asset Management (Hong Kong) Limited. This material has not been reviewed by the Securities and Futures Commission.

Today’s China Top Five: 💡 𝗙𝗜𝗜 𝗥𝗲𝘃𝗶𝘀𝗶𝗼𝗻 | 𝗣𝗕𝗼𝗖 & 𝗦𝗔𝗙𝗘 Revised Foreign Institutional Investor rules simplify registration and account management, enhance currency management and align exchange rate risk hedging with CIBM Direct access. The new rules will go into effect on August 26. 💡 𝗙𝘂𝗻𝗱 𝗟𝗮𝘂𝗻𝗰𝗵 | 𝗝𝗣 𝗠𝗼𝗿𝗴𝗮𝗻 J.P. Morgan Asset Management (China) raised RMB960m for a dividend strategy active equity fund. This is the firm’s largest active equity haul of the year and ranks among the top three in terms of industry-wide dividend strategy launches in 2024. 💡 𝗥𝗘𝗜𝗧𝘀 | 𝗙𝘂𝗻𝗱 𝗠𝗮𝗻𝗮𝗴𝗲𝗿𝘀 The total number of REITs in the onshore market has reached 40, with aggregate fundraising approaching RMB130bn. Newly issued REITs continue to be oversubscribed; the China REITs Total Return Index has increased by 8.5% year-to-date. 💡 𝗙𝗼𝗿𝗲𝗶𝗴𝗻 𝗘𝗻𝗴𝗮𝗴𝗲𝗺𝗲𝗻𝘁 | 𝗖𝗦𝗥𝗖 Wu Qing, Chairman of CSRC, held a meeting with representatives from ten foreign financial institutions. The meeting focused on discussing further reform and opening up of China's capital markets after the completion of the Third Plenum. 💡 𝗢𝘂𝘁𝗯𝗼𝘂𝗻𝗱 𝗘𝘅𝗽𝗮𝗻𝘀𝗶𝗼𝗻 | 𝗤𝗗𝗟𝗣 There has been a significant acceleration in QDLP activity among global managers in 2024. The likes of Amundi, Morgan Stanley Investment Management, Man Group, Wellington Management and BlackRock have either launched or are planning to launch products through the scheme.   #chinatopfive #zbenadvisors #assetmanagement #mutualfunds #ETFs #china #financialnews

Today’s China Top Five:   💡 𝗦𝗲𝗰𝘂𝗿𝗶𝘁𝗶𝗲𝘀 𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀 | 𝗠𝗶𝘇𝘂𝗵𝗼 CSRC provided feedback on the securities company establishment application from Mizuho. The feedback focused on the scope of business, planning, and the qualifications of the proposed chairman and general manager. 💡 𝗡𝗲𝘄 𝗟𝗮𝘂𝗻𝗰𝗵 | 𝗠&𝗚 M&G Investments launched the M&G China Fund which uses a bottom-up stock-picking approach with a strong emphasis on risk pricing. The fund will be managed by David Perrett, with support from a Singapore-based team, and is benchmarked against the MSCI China with 100% China A Share Index. 💡 𝗦𝘁𝗼𝗰𝗸 𝗖𝗼𝗻𝗻𝗲𝗰𝘁 | 𝗦𝗙𝗖, 𝗖𝗦𝗥𝗖 SFC issued guidelines allowing intermediaries to distribute research reports in Hong Kong on Mainland ETFs eligible for trading via the Stock Connect. This is a reciprocal action after CSRC indicated that research reports on Stock Connect-included Hong Kong-listed ETFs can be distributed onshore. 💡 𝗗𝗶𝘀𝘁𝗿𝗶𝗯𝘂𝘁𝗶𝗼𝗻 | 𝗦𝗮𝗹𝗲𝘀 𝗥𝗲𝘃𝗲𝗻𝘂𝗲 Financial product distribution revenues declined in the first half of 2024 for both banks and brokerages. Many institutions saw double-digit falls in distribution income. For instance, CITIC Securities Company Limited’ income dropped by 11%, and other major brokerages like Huatai Securities Co., Ltd. and GF Securities experienced even larger declines. 💡 𝗛𝗮𝗹𝗳-𝘆𝗲𝗮𝗿 𝗥𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴 | 𝗕𝗮𝗻𝗸 𝗪𝗲𝗮𝗹𝘁𝗵 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 Bank wealth management companies saw significant growth, with listed banks' wealth management subsidiaries achieving a 14% YoY increase in net profits. The subsidiaries of China Merchants Bank, China Industrial Bank and Industrial and Commercial Bank of China maintained the top three positions in terms of AUM.   #chinatopfive #zbenadvisors #assetmanagement #mutualfunds #ETFs #china #financialnews

The timing of launching our first China ETF - the Phillip-China Universal MSCI China A 50 Connect ETF couldn't be better! With the economic resurgence and policy support, global investors are increasingly recognizing the potential of China A shares. The Phillip-China Universal MSCI China A 50 Connect ETF is designed to capture the growth potential of China’s top 50 leading companies, offering investors a well-diversified sector allocation. Additionally, investing in the China market offers a unique diversification opportunity as the market has a low correlation with other stock markets. Visit our website to get more information on the ETF. Missed the listing event? No worries, here's the recap video! #ETF #SGX #China #ChinaA50ConnectETF

Today’s China Top Five:   💡 𝗔𝗹𝗹𝗶𝗮𝗻𝗰𝗲𝗕𝗲𝗿𝗻𝘀𝘁𝗲𝗶𝗻 𝗣𝗿𝗲𝗽𝗮𝗿𝗲𝘀 𝗙𝗶𝗿𝘀𝘁 𝗠𝘂𝘁𝘂𝗮𝗹 𝗙𝘂𝗻𝗱   The first product from AllianceBernstein (China) will be a quant active equity product and initial promotional materials have been released. Fundraising will begin next Monday (March 11) and run until March 28. The portfolio manager for the product is Liang Zhu, the firm’s CIO, and the custodian bank is Bank of Communications Co.,Ltd.. 💡 𝗖𝗦𝗜 𝗔𝟱𝟬 𝗘𝗧𝗙 𝗔𝗻𝗻𝗼𝘂𝗻𝗰𝗲𝗺𝗲𝗻𝘁𝘀 The first two launch announcements indicate retail-heavy fundraising. The J.P. Morgan Asset Management (China) product attracted more than 15,000 investors and implemented a pro-rata allocation rate of 88%. Meanwhile, the ETF from Ping An Fund had more than 22,000 investors and a pro-rata allotment below 80%. 💡 𝗙𝘂𝗻𝗱 𝗠𝗮𝗻𝗮𝗴𝗲𝗿𝘀 𝗘𝘅𝗽𝗮𝗻𝗱 𝗪𝗲𝗖𝗵𝗮𝘁 𝗣𝗿𝗲𝘀𝗲𝗻𝗰𝗲 Numerous fund companies, such as China Asset Management Co., Ltd., GF, and Bosera have launched WeChat mini programs focusing on ETFs and index investment – the former under the name “Red Rocket”. These mini programs provide information on products, index data and investment tips, with more refined mini programs expected in the future to enhance user experience and information dissemination. 💡 𝗘𝗧𝗙𝘀 𝗮𝘁 𝗥𝗠𝗕𝟮𝘁𝗿 Onshore ETFs ended February with RMB2.1tr AUM. National Team buying shaped flow trends with the four CSI 300 ETFs leading the charts in terms of AUM growth. Prior to the Lunar New Year holiday, several CSI 500 and CSI 1000 ETFs also saw significant expansion. 💡 𝗘𝘅𝗰𝗵𝗮𝗻𝗴𝗲𝘀 𝗛𝗼𝘀𝘁 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗧𝗿𝗮𝗶𝗻𝗶𝗻𝗴 Shanghai Stock Exchange and Shenzhen Stock Exchange hosted a training session for quantitative hedge funds, with 28 top firms in attendance. The training focused on understanding the impact of trading behaviors on the market for steady industry development.   #chinatopfive #zbenadvisors #assetmanagement #mutualfunds #ETFs  #china #financialnews  

Today’s China Top Five: 💡 𝗡𝗲𝘄 𝗟𝗮𝘂𝗻𝗰𝗵 | 𝗕𝗹𝗮𝗰𝗸𝗥𝗼𝗰𝗸 BlackRock (China) will begin fundraising for a new bond fund, the BlackRock Anyu 90-Day Holding Period Bond Fund, on October 21. The fund managers are Liu Xin, BlackRock (China)’s Chief Fixed Income Investment Officer, and Wang Yang. 💡 𝗠𝘂𝘁𝘂𝗮𝗹 𝗙𝘂𝗻𝗱𝘀 | 𝗡𝗲𝘄 𝗜𝗻𝘃𝗲𝘀𝘁𝗼𝗿𝘀 According to JD Finance, many new investors have entered the fund market. These new investors are primarily younger (70% are under the age of 35) and prefer index funds rather than chasing star managers. The average fund holdings of these new investors are around RMB8,000. 💡 𝗘𝗧𝗙𝘀 | 𝗖𝗦𝗜 𝗔𝟱𝟬𝟬 As of October 16, the total scale of the first batch of ten CSI A500 ETFs has continued to expand, growing from 20bn shares at listing to nearly 30bn shares within two days. The Guotai CSI A500 ETF leads, reaching nearly 6bn shares, almost tripling from its initial 2bn. 💡 𝗜𝗻𝘀𝘂𝗿𝗲𝗿𝘀 | 𝗘𝗾𝘂𝗶𝘁𝘆 𝗔𝗹𝗹𝗼𝗰𝗮𝘁𝗶𝗼𝗻𝘀  Recent policies have encouraged insurance companies to increase equity investments. For example, a RMB10bn innovative fund backed by Ping An Life was recently established to direct insurance capital into technology and other new-economy companies. 💡 𝗖𝗿𝗼𝘀𝘀-𝗕𝗼𝗿𝗱𝗲𝗿 | 𝗛𝗼𝗻𝗴 𝗞𝗼𝗻𝗴-𝗠𝗮𝗶𝗻𝗹𝗮𝗻𝗱 𝗖𝗼𝗻𝗻𝗲𝗰𝘁 The latest policy address of Hong Kong Chief Executive, John Lee, contained several financial markets measures, including the goal of enhancing the mutual market access regime with the Mainland. Plans to improve fixed income infrastructure to support RMB bond repo and offshore bond issuance were also discussed.   #chinatopfive #zbenadvisors #assetmanagement #mutualfunds #ETFs #china #financialnews

China’s macro data points are off to a strong start for Q1 2024 – will the momentum continue? With more stimulus on the cards, #China will continue to pour resources into tech innovation and advanced manufacturing, in line with Xi's push for "new productive forces". ONG Xun Xiang (王勋祥), CFA, CAIA, CA, ETF Business Lead, shares how the Lion-OCBC Securities Hang Seng TECH ETF is well-positioned to capitalise on the growth of the Chinese tech sector: https://lnkd.in/g9Cv4vst #LionGlobalInvestors #LGISG #assetmanagement #ETF #hangsengtech #OCBCSecurities

Today’s China Top Five:   💡 𝗖𝗦𝗜 𝗔𝟱𝟬 𝗘𝗧𝗙𝘀 𝗥𝗮𝗶𝘀𝗲 𝗥𝗠𝗕𝟭𝟲𝗯𝗻 Four of the ten ETFs – from J.P. Morgan Asset Management (China), Huatai-PineBridge Fund Management Co., Ltd. (Formerly AIG-Huatai), Ping An Fund and Da Cheng – hit their RMB2bn subscription caps. Most of the other offerings also raised over RMB1bn, with the smallest coming in at RMB900m. Fundraising is now closed and the products will be listed shortly. 💡 𝗙𝗼𝗿𝗲𝗶𝗴𝗻 𝗦𝗲𝗰𝘂𝗿𝗶𝘁𝗶𝗲𝘀 𝗙𝗶𝗿𝗺𝘀 𝗘𝘅𝗽𝗮𝗻𝗱 𝗢𝗻𝘀𝗵𝗼𝗿𝗲 The Morgan Stanley onshore securities unit was approved by CSRC to add investment consulting to its business scope and expand its proprietary trading business from bonds to all onshore securities. At the same time, HSBC Qianhai Securities received CSRC feedback on its proposed margin trading and securities lending business line. 💡 𝗪𝗲𝗮𝗹𝘁𝗵 𝗖𝗼𝗻𝗻𝗲𝗰𝘁 𝗗𝗲𝗽𝗼𝘀𝗶𝘁 𝗥𝗮𝘁𝗲𝘀 𝗛𝗶𝘁 𝟭𝟬% ICBC (Asia) is offering one- and three-month deposits in RMB, USD or HKD to select mainland clients with an annualized rate of up to 10%. Such rates are available through the Southbound Wealth Management Connect and are limited to first time customers. 💡 𝗡𝗲𝘄 𝗖𝗜𝗢 𝗳𝗼𝗿 𝗖𝗜𝗖 Liu Haoling was previously Chief Risk Officer and succeeds Ju Weimin as CIO, president and vice chairman of China Investment Corporation. Liu also held positions and Central Huijin and undertook further education in both the UK and US. 💡 𝗦𝗧𝗔𝗥 𝗠𝗮𝗿𝗸𝗲𝘁 𝗜𝗻𝗱𝗲𝘅 𝗦𝗲𝗿𝗶𝗲𝘀 𝗟𝗮𝘂𝗻𝗰𝗵𝗲𝗱 Shanghai Stock Exchange and China Securities Index Co., Ltd. have announced the launch of the SSE Select STAR Market Growth Momentum 50 Strategy Index and the SSE Select STAR Market Leading Strategy Index. Additionally, the SSE STAR Market ESG Index will be unveiled later in March.   #chinatopfive #zbenadvisors #assetmanagement #mutualfunds #ETFs  #china #financialnews