Asset surge by China fund firms masks problems
The nation's mutual fund industry recorded 29% growth in AUM to $449 billion at end-2012, but look deeper and you'll find a market increasingly dominated by bank-backed managers.
China’s mutual funds industry saw AUM surge 29% in the final quarter to end 2012 at Rmb2.8 trillion ($449 billion), although this paints a deceptively rosy picture, finds Z-Ben Advisors.
The Shanghai-based consultancy notes that the rise was chiefly bolstered by firms’ annual tendency to raise year-end rankings by selling money-market funds (MMFs), rather than any incremental growth path.
Fund management companies (FMCs) saw more than Rmb200 billion in inflows into MMFs via orga…
Sign In to Your Account
Access Exclusive AsianInvestor Content!
Please sign in to your subscription to unlock full access to our premium AI resources.
Free Registration & 7-Day Trial
Register now to enjoy a 7-day free trial—no registration fees required. Click the link to get started.
Note: This free trial is a one-time offer.
¬ Haymarket Media Limited. All rights reserved.