Fri, Sep 30, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Delegates report serious demand for financial services in China

Wednesday, June 12, 2013

amb
Eric Wong
By Beverly Chandler, Opalesque London:

The Opalesque 2013 Hong Kong Roundtable, sponsored by Bingham McCutchen, Eurex and Taussig Capital saw Eric Wong of TCG Capital Hong Kong express his belief that the economy in China is already at 5% GDP growth. "Forget the 8, 7 or 6%. I believe it's at 5% and that it will go further down from there" he said. "But, I have never been more bullish on the longer term prospects and opportunities for financial services in China. I think the easy money has already been made in China, by the locals mostly and generally not in financial services, but now there is a serious demand for financial services especially asset management."

However, Wong believes that it will not be easy to meet this demand, requiring focus, organization, and bringing a global perspective and exposure. "I think everybody gets a second chance in China, for example brand-wise or businesswise, and also so far I don’t think anybody has built a real name in terms of asset management excellence in China. The local players are certainly working very hard to expand and improve, but they may not have the global knowhow that is required to do that" he said.

&......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Studies - Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements, Cambridge: Look to private investments for best access to LatAm growth[more]

    Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements A new study of the hedge fund space by industry law firm Seward & Kissel LLP reveals a wealth of information regarding established hedge fund managers’ use of side letters—special agreements

  2. Activist News - Caesars 'optimistic' on deal with hedge fund creditors[more]

    From Reuters.com: Caesars Entertainment Corp said on Monday it remains "optimistic" of reaching a $5 billion deal with the bulk of its creditors to push its main operating unit out of bankruptcy, but one hedge fund bondholder said it will pursue litigation. Caesars offered a sweetened $5 billion set

  3. Hedge funds recover from losses as central banks give markets a respite[more]

    Komfie Manalo, Opalesque Asia: The Lyxor Hedge Fund index was up 0.4% from the week ending September 20 (-2.4% YTD), supported by the willingness of central banks to remain accommodative, Lyxor Asset Management said in its weekly briefing. It ad

  4. Perry Capital closing flagship fund after almost three decades[more]

    From Blooomberg.com: Richard Perry, one of the biggest names in hedge funds, is calling it quits after 28 years. Perry, 61, is winding down his New York-based flagship fund as the industry confronts one of the most tumultuous periods in its history. In a letter to investors Monday, he said his style

  5. Eden Rock buys Gottex stake in ERG Asset Management[more]

    Matthias Knab, Opalesque: Eden Rock Group announced the purchase of Gottex’s stake in ERG Asset Management and so the firm is now wholly owned by Eden Rock. The two firms established the joint venture in 2011 to focus on providing cost effective solutions to funds holding illiquid investments, as