China Fund News Wu Juanjuan Lu Huijing

On January 13, 223, the official website of the CSRC issued the Reply on Approving the Establishment of Schroeder Fund Management (China) Co., Ltd., officially approving the establishment of Schroeder Fund Management (China) Co., Ltd. (hereinafter referred to as "Schroeder Fund").

Source: Website of the CSRC

According to the announcement of the CSRC, the registered capital of Schroeder Fund is 26 million yuan, which is 1% controlled by Schroeder Investment Management, a subsidiary of Schroeder Investment Group. According to relevant regulations, Schroeder Fund shall be established within 6 months from the date of approval, with full capital contribution, election of directors, supervisors and appointment of senior management personnel.

According to the data, Schroeder Investment Group was founded in 184 with a history of more than 2 years. After numerous market cycles, it has formed the characteristics of focusing on risk management, cross-market and multi-asset investment. At the same time, as an institution headquartered in Europe, Schroeder Investment is also an active practitioner of ESG investment. Official website data show that. As of June 3, 222, Schroeder's investment management scale was 773.4 billion pounds (about 6.33 trillion yuan).

Lieven Debruyne, head of global business of Schroeder Investment Group, said in a press release: China is the top priority in Schroeder's global strategy. The approval of the public offering license marks a key step for Schroeder's all-round development in China, and strengthens Schroeder's confidence in continuing to expand his business and investment in China.

Li Dingbang, source: Schroeder

Guo Wei, president of Schroeder Investment China, said: With the further opening of China's financial market by the China government, it is believed that the fund retail market and pension market in China are ready to meet the differentiated investment scheme from overseas investment institutions.

Guo Wei, source: Schroeder

Before the license was approved, Schroeder had made great efforts to recruit talents. In February 222, An Yun, former deputy general manager of Changxin Fund, joined Schroeder as the chief investment officer of the wholly-owned public offering business in preparation. In recent years, exchanges with domestic and foreign capital tend to be frequent, but there is relatively little flow at the level of deputy general manager.

On January 6, 223, An Yun published a research opinion that the optimization of epidemic prevention policy exceeded expectations, which may bring strong positive effects to the economic recovery in 223. The main goal of the government in the next six months or longer is to revive the economy, and there may be corresponding policy measures and implementation means in the future. The focus of the policy is on domestic demand on the one hand and industrial upgrading on the other. Three years after the epidemic, residents have accumulated a huge amount of excess savings. When the time is ripe, consumers' risk appetite will pick up, and consumption and service demand are expected to pick up gradually.

China has been located for 28 years

Luozi Bank manages financial affairs and Public Offering of Fund

Since the first representative office in China was established in Shanghai in 1994, Schroeder has been located in China for 28 years, making it one of the most widely distributed foreign-funded institutions in China.

it owns the Bank of Communications Schroeder Fund, Schroeder Bank of Communications Financial Management, Schroeder Fund and other entities in China. Among them, Bank of Communications Schroeder Fund was established in 25, and Bank of Communications Schroeder is one of the first bank background fund companies in China, headquartered in Shanghai, China. According to the statistics of asset management association of china, according to the average monthly non-goods scale in the third quarter of 222 (excluding short-term financial bond funds and fund-in-fund FOF), Bank of Communications Schroeder Fund ranked 12th among more than 1 public offerings in China.

Source: asset management association of china

Schroeder Investment's other son "Schroeder Bank of Communications Finance" left behind in China is held by Schroeder Investment with 51% equity and Bank of Communications Finance with 49%. On March 31st, 222, the first wealth management product of Schroeder Bank of Communications Financial Management, Schroeder Bank of Communications Financial Management Deyuan Multi-asset Steady One-year Closed 221 Wealth Management Product, was raised. It is reported that as of the end of the subscription period on March 31, the product has raised more than 1.5 billion yuan. A person from a joint venture financial marketing department told reporters: Under the market conditions at that time, the issuance situation was good.

Schroeder Bank of Communications Finance recruits talents in a market-oriented way. For example, Fu Haining, the head of its equity investment, once worked in Qianhai Kaiyuan. Up to now, Schroeder Bank of Communications Finance's products currently include Derun, Deyuan, Deheng, Detian and Dehong series, with risk levels ranging from R2 to R5. The information website of China Wealth Management Network contains 36 pieces of information about Schroeder Bank of Communications wealth management products.

accelerating the opening of the asset management industry

Since November 222, the opening of China's asset management industry has been further accelerated, and major events have occurred continuously.

on November 18th, 222, the equity transfer of TEDA Manulife Fund was approved, and it became a Public Offering of Fund company 1% controlled by Canadian financial giant Manulife Financial Group. On November 25th, 222, Lubomai Fund, which is 1% owned by Lubomai Group, was approved for opening. On December 9, 222, Fidelity Fund, which is 1% owned by Fidelity International, was approved for opening. The approval of the Schroeder Fund is the fourth major event in the wholly foreign-owned public offering circle in the past two months.

together with BlackRock fund, which opened in June, 221, since the CSRC lifted the restrictions on the foreign shareholding ratio of securities companies and fund management companies on April 1, 22, there are five foreign companies in China that hold 1% of the shares in Public Offering of Fund.

how is the development of the wholly foreign-owned public offering that has been opened? Let's take a look together.

in August 22, BlackRock, the world's largest asset management institution, took the lead in obtaining the first domestic and foreign public offering license. In recent two years, more and more wholly foreign-owned Public Offering of Fund management companies have "landed" in China, opening a great era for Chinese and foreign asset management institutions to compete on the same stage.

in terms of product layout, BlackRock is also the fastest among the newly approved foreign-funded fund companies due to its early establishment. As of January 13th, BlackRock Fund has issued four funds, including BlackRock China New Vision and BlackRock Hong Kong Stock Connect Vision, with product types covering mixed stocks and mixed debts. In addition, three other funds, including BlackRock's AAA Index of China Securities Interbank Deposits, are in the reporting and approval stage.

Wind data shows that by the end of the third quarter of last year, BlackRock managed a total of 5.474 billion yuan of non-monetary funds, ranking 129th in the industry.

data source: Wind

In order to support the rapid development of the company, BlackRock Fund completed two capital increases in May and November last year, and the major shareholder BlackRock Group subscribed for the newly-increased registered capital. After the capital increase, the registered capital increased from 3 million yuan to 7 million yuan, with a capital increase rate of 133%.

In addition, Fidelity Fund and Lubomai Fund have reported the first Public Offering of Fund, and the product will be available soon.

Source: Wind

In addition to these established ones, there are many wholly foreign-owned Public Offering of Fund on the way.

For example, Shangtou Morgan has also submitted more than 5% shareholder change applications, and this application has also received regulatory feedback, which is only one step away from becoming a wholly foreign-owned fund company.

According to the website of CSRC, Lianbo Fund and Fanda Fund have submitted applications for establishing Public Offering of Fund Management Company, and will join the "army" of wholly foreign-owned fund companies after being approved in the future.