China Asset Management
{{Short description|Chinese Asset Management Company}}
{{Infobox company
| name = China Asset Management Co., Ltd.
| logo = China Asset Management Logo.png
| native_name = 华夏基金管理有限公司
| traded_as =
| founded = {{start date and age|1998}}
| key_people = Yang Minghui (chairman)
| industry = Investment Management
| location = Beijing, China
| revenue =
| net_income =
| aum = {{US$|271 billion}} {{small|(2021)}}{{cite web |title=Capturing growth opportunities in China |url=https://impact.economist.com/projects/sustainable-investment-in-china/capturing-growth-opportunities-in-china/ |website=ChinaAMC {{!}} Home}}
| owners = CITIC Securities (62.2%)
Power Corporation of Canada (13.9%)
Mackenzie Investments (13.9%)
| num_employees =
| homepage = {{url|http://www.chinaamc.com/}}
}}
China Asset Management Co., Ltd. (ChinaAMC; {{zh|s=华夏基金管理有限公司|t=|p=Huáxià jījīn guǎnlǐ yǒuxiàn gōngsī|c=}}) is one of China's biggest fund families. The company offers investment managers of National Social Security Fund, corporate annuities, Listed Open-end Fund (LOF), Qualified Domestic Institutional Investor (QDII) funds and Qualified Foreign Institutional Investor (QFII) funds, etc. It is the first exchange-traded fund (ETF) manager in China, and the sole investment manager of Asian Bond Fund China Fund. The company is the first in the industry to initiate the investment philosophy of Research Creates Value.{{Cite web|url=http://fund.chinaamc.com/portal/en/home/index.jsp|title=Official Information|website=fund.chinaamc.com|access-date=2018-12-27}}
Background
ChinaAMC was established in 1998 and is headquartered in Beijing, China, with branches in Shanghai, Nanjing, Shenzhen, Chengdu, and Hangzhou, and three subsidiaries-China Asset Management (Hong Kong), China Capital Management, and China Wealth Management. Li Yimei is the CEO of the company.{{Citation|title=China Asset Management's CEO Doesn't See Much Upside for A-Shares|url=https://www.youtube.com/watch?v=oV6dDE6iV-g |archive-url=https://ghostarchive.org/varchive/youtube/20211221/oV6dDE6iV-g |archive-date=2021-12-21 |url-status=live|language=en|access-date=2020-03-12}}{{cbignore}}
Power Corporation acquired a stake in China Asset Management in 2011, which is followed by another stake purchase by Mackenzie Investments in 2017.{{Cite web|url=https://www.pionline.com/article/20170104/ONLINE/170109968/mackenzie-to-acquire-10-stake-in-china-asset-management-co|title=Mackenzie to acquire 10% stake in China Asset Management Co.|date=2017-01-04|website=Pensions & Investments|language=en|access-date=2020-03-13}} Mackenzie is owned by Toronto-listed asset and wealth manager IGM Financial, which is owned by Power Corporation. Together they own 27.8% stake in ChinaAMC.{{Cite web|url=https://www.funds-europe.com/global-industry-2019/mackenzie-executive-interview-more-chinese-clients-than-people-in-canada|title=Mackenzie executive interview: More Chinese clients than people in Canada|website=www.funds-europe.com|access-date=2020-03-13}} CITIC Securities is the largest shareholder with 62.2% stake.
In 2017, ChinaAMC became the first full-service Chinese asset manager to sign up for the United Nations-supported Principles for Responsible Investment (PRI).{{Cite web|url=https://www.prnewswire.com/news-releases/china-asset-management-company-became-a-signatory-of-united-nations-supported-principles-for-responsible-investment-300426843.html|title=China Asset Management Company Became A Signatory of United Nations-Supported Principles for Responsible Investment|last=Ltd. (ChinaAMC)|first=China Asset Management Co|website=www.prnewswire.com|language=en|access-date=2020-04-15}}
As of June 30, 2023, ChinaAMC is one of the largest fund management companies in China with $261 billion (RMB 1.869 trillion) in Assets Under Management (including that of subsidiaries), and a client base comprising nearly 220,000 institutional clients and over 210 million retail investors.
In June 2024, Reuters wrote that Qatar's sovereign fund Qatar Investment Authority had agreed to buy a 10% stake in ChinaAMC and was awaiting approval by Chinese regulators.{{Cite news |last=Shen |first=Samuel |last2=Li |first2=Selena |date=June 4, 2024 |title=Exclusive: Qatar Sovereign Fund Agrees to Buy 10% Stake in China Asset Manager, Sources Say |url=https://www.reuters.com/world/middle-east/qatar-sovereign-fund-agrees-buy-10-stake-china-asset-manager-sources-say-2024-06-04/ |work=Reuters}}
References
{{Reflist}}
External links
- [http://www.chinaamc.com/ Corporate website]
{{Major asset management companies}}
Category:Financial services companies of China
Category:Financial services companies established in 1998