Wall Street & Technology is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Asset Management

11:21 AM
Connect Directly

China's Fund Management Industry Grows 40% in 2009

The year was marked by a flight from money market funds, and to a lesser but significant extent, fixed-income funds, according to Z-Ben Advisors.

The Chinese fund management industry grew by almost 40% last year, with total assets under management rising to almost $400 billion by the end of 2009.

According to a report by Shanghai-based Z-Ben Advisors, the industry's AUM rose to $392 billion, a 37.9% rise compared to 2008. The rise was almost exclusively due to growth in underlying assets, while new equity-sector launches mitigated a year-long exodus from other assets, Z-Ben said. In particular, the year was marked by a flight from money market funds, and to a lesser but significant extent, fixed-income funds.

Z-Ben said that overall, it was a year of consolidation for China after the boom and bust of 2007-2008. That consolidation for the most part favored the industry's largest firms, with many more mid-and small-tier firms losing market share.

The top five firms by market share at the end of 2009 were China AMC, E-Fund, Bosera, Harvest, and Southern. Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio

Register for Wall Street & Technology Newsletters
Top Quotes of the Week
Top Quotes of the Week
It wasn't all bad luck for the capital markets this week: Hedge funds had a decent first quarter despite a slowdown in jobs numbers, BlackRock might be heading into new territory as hedge fund managers take a hard look at their counterparties, and the head of the IMF didn't pull any punches when assessing today's global economy. At least we can admire the nice weather and some of the best quotes of the week.