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Alternative Market Briefing

Qualified expectations for Chinese asset management expansion overseas

Tuesday, November 12, 2013

Beverly Chandler, Opalesque London:

Latest research from Cerulli entitled 'Asset Management in China 2013' finds that a spate of regulatory changes has unleashed opportunities for Chinese asset managers to potentially expand into regional markets. The firm finds that as the domestic market gets tougher, with mutual fund assets under management still below 2009 levels, many managers are venturing abroad.

However, Cerulli reports that obstacles lie in the way of potential international expansion, the largest being that Chinese fund houses still face distrust in areas like compliance and risk assessment processes. The firm writes: "They are making up for this by playing up their Chinese market expertise. They are also hiring executives with overseas experience to demonstrate their commitment to better governance and an international outlook."

Rachel Poh, an analyst with Cerulli who contributed to the report says: "In particular, the Qualified Financial Institutional Investor (QFII) advisory business remains very important to Chinese firms in Hong Kong. Recent QFII activities have centered on institutions in Asia. Prior to 2011, there were 34 Asia-based institutions that received their approvals and quota (excluding Hong Kong). Since then, 39 more have been added to the list as of August 2013, with 25 of those coming in 2012."

The report found that some Chinese asset managers are directly pitching to prospective ......................

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