China Fund Industry Report, 2008-2009
By Dec 31 2008, the net asset value of 477 funds was totaled at CNY1.939 trillion, and the share was totaled at 2.574 trillion, increased by 340.9 billion. However, compared to the total net asset value of CNY3.315 trillion in 2007, the total net asset value has dropped 41.5% in 2008.
According to Eastmoney, in the first quarter of 2009, a total of 37 funds were issued (5 in Jan, 14 in Feb and 18 in Mar); while only 20 funds were issued in the first quarter of 2008.
Among the 5 funds issued in Jan 2009, there were 2 monetary funds and 3 bond funs, none of any stock funds; while in Feb 2009, there were 5 stock funds, 6 bond funds and 4 mix funds. Up to Mar 2009, there were 8 stock funds, 7 bond funds and 3 mix funds.
In 2008, stock funds all had a loss; in contrast, fixed income funds enjoyed a considerable profit: the annual return rate of bond funds exceeded the fixed deposit and the return rate of monetary funds also increased along with the booming of bond market.
Due to the existence of many unfavorable factors, China’s stock market in 2009 will be stay unstable. However, there are still many structural investment opportunities in the market, and the performances of funds tend to be more differentiation.
According to Eastmoney, in the first quarter of 2009, a total of 37 funds were issued (5 in Jan, 14 in Feb and 18 in Mar); while only 20 funds were issued in the first quarter of 2008.
Among the 5 funds issued in Jan 2009, there were 2 monetary funds and 3 bond funs, none of any stock funds; while in Feb 2009, there were 5 stock funds, 6 bond funds and 4 mix funds. Up to Mar 2009, there were 8 stock funds, 7 bond funds and 3 mix funds.
In 2008, stock funds all had a loss; in contrast, fixed income funds enjoyed a considerable profit: the annual return rate of bond funds exceeded the fixed deposit and the return rate of monetary funds also increased along with the booming of bond market.
Due to the existence of many unfavorable factors, China’s stock market in 2009 will be stay unstable. However, there are still many structural investment opportunities in the market, and the performances of funds tend to be more differentiation.
1.OVERVIEW OF CHINA’S FUND INDUSTRY, 2008-2009
1.1 New regulations on fund supervision
1.2 Review of Fund Industry, 2008
1.3 Review of Fund Market, 2008
1.3.1 Stock fund
1.3.2 Fixed Income Fund
1.3.3 Fund Custodian Bank
1.4 Fund Issue in 2009Q1
2. QFII
2.1 Status Quo
2.2 Existing Problems
2.3 Performance
2.4 QFII Funds
2.4.1 A share fund of Morgan Stanley China
2.4.3 Futong Yangtze Fund
2.4.3 A share fund of Hang Seng Bank China
2.4.4 A50 fund of iShare FTSE Xinhua Index Limited
2.4.5 Nikko Asset Management Co., Ltd
2.4.6 Deutsche Bank
2.4.7 Goldman Sachs
2.4.8 Citigroup Global Markets Limited
2.4.9 UBS AG
2.4.10 Nomura Securities
3. SOCIAL SECURITY FUND
3.1 Overview
3.2 Overseas Investments
3.3 Domestic Investments
4. PRIVATE EQUITY SECURITIES INVESTMENT FUND
4.1 Definition
4.2 Development Courses
4.3 Status Quo
4.4 Performance
5. QDII
5.1 Status Quo
5.2 Security Products
5.3 Banking Products
5.4 Insurance Products
5.5 Investment Direction of QDII
6. FUND COMPANIES
6.1 China Southern Fund Management Co., Ltd
6.1.1 Company Profile
6.1.2 Company Performance
6.2 E Fund Management Co., Ltd
6.2.1 Company Profile
6.2.2 Company Performance
6.3 ChinaAMC
6.3.1 Company Profile
6.3.2 Company Performance
6.3.3 Development
6.4 Hua An Fund Management Co., Ltd
6.4.1 Company Profile
6.4.2 Company Performance
6.5 Bosera Asset Management Co., Ltd
6.5.1 Company Profile
6.5.2 Company Performance
6.5.3 Development
6.6 GF Fund Management Co., Ltd
6.6.1 Company Profile
6.6.2 Company Performance
6.7 Harvest Management Co., Ltd
6.7.1 Company Profile
6.7.2 Company Performance
6.7.3 Strategies on Talents
6.8 Yinhua Fund Management Co., Ltd
6.8.1 Company Profile
6.8.2 Company Performance
6.9 Da Cheng Fund Management Co., Ltd
6.9.1 Company Profile
6.9.2 Company Performance
6.10 Guotai Fund Management Co., Ltd
6.10.1 Company Profile
6.10.2 Company Performance
6.11 Invesco Great Wall Fund Management Co., Ltd
6.11.1 Company Profile
6.11.2 Company Performance
6.12 Rongtong Fund Management Co., Ltd
6.12.1 Company Profile
6.12.2 Company Performance
6.13 Fortune SGAM Fund Management Co., Ltd
6.13.1 Company Profile
6.13.2 Company Performance
6.14 Penghua Fund Management Co., Ltd
6.14.1 Company Profile
6.14.2 Company Performance
6.15 China Post & Capital Fund Management Co., Ltd
6.15.1 Company Profile
6.15.2 Company Performance
6.16 China Universal Asset Fund Management Co., Ltd
6.16.1 Company Profile
6.16.2 Company Performance
6.17 Lion Fund Management Co., Ltd
6.17.1 Company Profile
6.17.2 Company Performance
6.18 Greatwall Fund Management Co., Ltd
6.18.1 Company Profile
6.18.2 Company Performance
6.19 China International Fund Management Co., Ltd
6.19.1 Company Profile
6.19.2 Company Performance
6.20 Fullgoal Fund Management Co., Ltd
6.20.1 Company Profile
6.20.2 Company Performance
7. PROSPECT OF FUND MARKET AND INNOVATION OF FUND PRODUCTS, 2009
7.1 Market Prospect
7.2 Product Innovations
1.1 New regulations on fund supervision
1.2 Review of Fund Industry, 2008
1.3 Review of Fund Market, 2008
1.3.1 Stock fund
1.3.2 Fixed Income Fund
1.3.3 Fund Custodian Bank
1.4 Fund Issue in 2009Q1
2. QFII
2.1 Status Quo
2.2 Existing Problems
2.3 Performance
2.4 QFII Funds
2.4.1 A share fund of Morgan Stanley China
2.4.3 Futong Yangtze Fund
2.4.3 A share fund of Hang Seng Bank China
2.4.4 A50 fund of iShare FTSE Xinhua Index Limited
2.4.5 Nikko Asset Management Co., Ltd
2.4.6 Deutsche Bank
2.4.7 Goldman Sachs
2.4.8 Citigroup Global Markets Limited
2.4.9 UBS AG
2.4.10 Nomura Securities
3. SOCIAL SECURITY FUND
3.1 Overview
3.2 Overseas Investments
3.3 Domestic Investments
4. PRIVATE EQUITY SECURITIES INVESTMENT FUND
4.1 Definition
4.2 Development Courses
4.3 Status Quo
4.4 Performance
5. QDII
5.1 Status Quo
5.2 Security Products
5.3 Banking Products
5.4 Insurance Products
5.5 Investment Direction of QDII
6. FUND COMPANIES
6.1 China Southern Fund Management Co., Ltd
6.1.1 Company Profile
6.1.2 Company Performance
6.2 E Fund Management Co., Ltd
6.2.1 Company Profile
6.2.2 Company Performance
6.3 ChinaAMC
6.3.1 Company Profile
6.3.2 Company Performance
6.3.3 Development
6.4 Hua An Fund Management Co., Ltd
6.4.1 Company Profile
6.4.2 Company Performance
6.5 Bosera Asset Management Co., Ltd
6.5.1 Company Profile
6.5.2 Company Performance
6.5.3 Development
6.6 GF Fund Management Co., Ltd
6.6.1 Company Profile
6.6.2 Company Performance
6.7 Harvest Management Co., Ltd
6.7.1 Company Profile
6.7.2 Company Performance
6.7.3 Strategies on Talents
6.8 Yinhua Fund Management Co., Ltd
6.8.1 Company Profile
6.8.2 Company Performance
6.9 Da Cheng Fund Management Co., Ltd
6.9.1 Company Profile
6.9.2 Company Performance
6.10 Guotai Fund Management Co., Ltd
6.10.1 Company Profile
6.10.2 Company Performance
6.11 Invesco Great Wall Fund Management Co., Ltd
6.11.1 Company Profile
6.11.2 Company Performance
6.12 Rongtong Fund Management Co., Ltd
6.12.1 Company Profile
6.12.2 Company Performance
6.13 Fortune SGAM Fund Management Co., Ltd
6.13.1 Company Profile
6.13.2 Company Performance
6.14 Penghua Fund Management Co., Ltd
6.14.1 Company Profile
6.14.2 Company Performance
6.15 China Post & Capital Fund Management Co., Ltd
6.15.1 Company Profile
6.15.2 Company Performance
6.16 China Universal Asset Fund Management Co., Ltd
6.16.1 Company Profile
6.16.2 Company Performance
6.17 Lion Fund Management Co., Ltd
6.17.1 Company Profile
6.17.2 Company Performance
6.18 Greatwall Fund Management Co., Ltd
6.18.1 Company Profile
6.18.2 Company Performance
6.19 China International Fund Management Co., Ltd
6.19.1 Company Profile
6.19.2 Company Performance
6.20 Fullgoal Fund Management Co., Ltd
6.20.1 Company Profile
6.20.2 Company Performance
7. PROSPECT OF FUND MARKET AND INNOVATION OF FUND PRODUCTS, 2009
7.1 Market Prospect
7.2 Product Innovations
SELECTED CHARTS
Monthly Fund Scale in China, 2008
The Ranking of Open-end Stock Funds according to Performance in 2008
Top 10 Open-end Mix Funds by Performance, 2008
Newly-issued Open-end Mix Funds, 2008
Top 5 Open-end Bond Funds by Performance, 2008
Statistics of QFII Qualifications
Total Shares Held by QFII, end of 2007 and Q1 2008
Industrial Distribution of Shares Held by QFII, end of 2007 and Q1 2008
Shareholding status of Morgan Stanley, 1H 2008
Shareholding status of Morgan Stanley, 2H 2008
Shareholding status of Fortis Haitong Investment Management Co., 1H 2008
Shareholding status of Fortis Haitong Investment Management Co., 2H 2008
Shareholding status of Hang Seng Bank, 1H 2008
Shareholding status of Hang Seng Bank, 2H 2008
Shareholding status of Nikko Asset Management Co., 1H 2008
Shareholding status of Nikko Asset Management Co., 2H 2008
Shareholding status of Goldman Sachs, 1H 2008
Shareholding status of Goldman Sachs, 2H 2008
Shareholding status of Deutsche Bank, 1H 2008
Shareholding status of Citigroup Global Markets Limited, 1H 2008
Shareholding status of Citigroup Global Markets Limited, 2H 2008
Shareholding status of UBS AG, 1H 2008
Shareholding status of UBS AG, 2H 2008
Shareholding status of Nomura Securities, 1H 2008
Shareholding status of Nomura Securities, 2H 2008
Yields of Social Security Fund, 2000-2007
Oversea Investments of Social Security Fund
Domestic Investments of Social Security Fund
Key Brokers of Private Equity Fund in China
Top 30 Private Equity Funds in Terms of Yield, 2008
List of Partial Fund Companies with the Qualification of QDII
Yield of QDII Funds, 2008
Capital Stock Structure of China Southern Fund Management Co., Ltd
Operation Status of Open-end Funds by China Southern Fund Management Co., Ltd
Operation Status of Close-end Funds by China Southern Fund Management Co., Ltd
Operation Status of Open-end Funds by Fund Management Co., Ltd
Operation Status of Close-end Funds by E Fund Management Co., Ltd
Fund Operation Status of ChinaAMC
Capital Stock Structure of Hua An Fund Management Co., Ltd
Operation Status of Open-end Funds by Hua An Fund Management Co., Ltd
Operation Status of Close-end Funds by Hua An Fund Management Co., Ltd
Shareholder Structure of Bosera Asset Management Co., Ltd
Fund Operation Status of Bosera Asset Management Co., Ltd
Operation Status of Open-end Funds by Bosera Asset Management Co., Ltd
Operation Status of Close-end Funds by Bosera Asset Management Co., Ltd
Shareholder Structure of GF Fund Management Co., Ltd
Fund Operation Status of GF Fund Management Co., Ltd
Fund Operation Status of Harvest Management Co., Ltd
Fund Operation Status of Yinhua Fund Management Co., Ltd
Fund Operation Status of Da Cheng Fund Management Co., Ltd
Capital Stock Structure of National Stabilisation Fund
Fund Operation Status of Guotai Fund Management Co., Ltd
Shareholder Structure of Invesco Great Wall Fund Management Co., Ltd
Fund Operation Status of Invesco Great Wall Fund Management Co., Ltd
Fund Operation Status of Rongtong Fund Management Co., Ltd
Shareholder Structure of Fortune SGAM Fund Management Co., Ltd
Fund Operation Status of Fortune SGAM Fund Management Co., Ltd
Fund Operation Status of Penghua Fund Management Co., Ltd
Fund Operation Status of China Post & Capital Fund Management Co., Ltd
Fund Operation Status of China Universal Asset Fund Management Co., Ltd
Shareholder Structure of Lion Fund Management Co., Ltd
Fund Operation Status of Lion Fund Management Co., Ltd
Shareholder Structure of Greatwall Fund Management Co., Ltd
Fund Operation Status of Greatwall Fund Management Co., Ltd
Fund Operation Status of China International Fund Management Co., Ltd
Shareholder Structure of Fullgoal Fund Management Co., Ltd
Fund Operation Status of Fullgoal Fund Management Co., Ltd
Monthly Fund Scale in China, 2008
The Ranking of Open-end Stock Funds according to Performance in 2008
Top 10 Open-end Mix Funds by Performance, 2008
Newly-issued Open-end Mix Funds, 2008
Top 5 Open-end Bond Funds by Performance, 2008
Statistics of QFII Qualifications
Total Shares Held by QFII, end of 2007 and Q1 2008
Industrial Distribution of Shares Held by QFII, end of 2007 and Q1 2008
Shareholding status of Morgan Stanley, 1H 2008
Shareholding status of Morgan Stanley, 2H 2008
Shareholding status of Fortis Haitong Investment Management Co., 1H 2008
Shareholding status of Fortis Haitong Investment Management Co., 2H 2008
Shareholding status of Hang Seng Bank, 1H 2008
Shareholding status of Hang Seng Bank, 2H 2008
Shareholding status of Nikko Asset Management Co., 1H 2008
Shareholding status of Nikko Asset Management Co., 2H 2008
Shareholding status of Goldman Sachs, 1H 2008
Shareholding status of Goldman Sachs, 2H 2008
Shareholding status of Deutsche Bank, 1H 2008
Shareholding status of Citigroup Global Markets Limited, 1H 2008
Shareholding status of Citigroup Global Markets Limited, 2H 2008
Shareholding status of UBS AG, 1H 2008
Shareholding status of UBS AG, 2H 2008
Shareholding status of Nomura Securities, 1H 2008
Shareholding status of Nomura Securities, 2H 2008
Yields of Social Security Fund, 2000-2007
Oversea Investments of Social Security Fund
Domestic Investments of Social Security Fund
Key Brokers of Private Equity Fund in China
Top 30 Private Equity Funds in Terms of Yield, 2008
List of Partial Fund Companies with the Qualification of QDII
Yield of QDII Funds, 2008
Capital Stock Structure of China Southern Fund Management Co., Ltd
Operation Status of Open-end Funds by China Southern Fund Management Co., Ltd
Operation Status of Close-end Funds by China Southern Fund Management Co., Ltd
Operation Status of Open-end Funds by Fund Management Co., Ltd
Operation Status of Close-end Funds by E Fund Management Co., Ltd
Fund Operation Status of ChinaAMC
Capital Stock Structure of Hua An Fund Management Co., Ltd
Operation Status of Open-end Funds by Hua An Fund Management Co., Ltd
Operation Status of Close-end Funds by Hua An Fund Management Co., Ltd
Shareholder Structure of Bosera Asset Management Co., Ltd
Fund Operation Status of Bosera Asset Management Co., Ltd
Operation Status of Open-end Funds by Bosera Asset Management Co., Ltd
Operation Status of Close-end Funds by Bosera Asset Management Co., Ltd
Shareholder Structure of GF Fund Management Co., Ltd
Fund Operation Status of GF Fund Management Co., Ltd
Fund Operation Status of Harvest Management Co., Ltd
Fund Operation Status of Yinhua Fund Management Co., Ltd
Fund Operation Status of Da Cheng Fund Management Co., Ltd
Capital Stock Structure of National Stabilisation Fund
Fund Operation Status of Guotai Fund Management Co., Ltd
Shareholder Structure of Invesco Great Wall Fund Management Co., Ltd
Fund Operation Status of Invesco Great Wall Fund Management Co., Ltd
Fund Operation Status of Rongtong Fund Management Co., Ltd
Shareholder Structure of Fortune SGAM Fund Management Co., Ltd
Fund Operation Status of Fortune SGAM Fund Management Co., Ltd
Fund Operation Status of Penghua Fund Management Co., Ltd
Fund Operation Status of China Post & Capital Fund Management Co., Ltd
Fund Operation Status of China Universal Asset Fund Management Co., Ltd
Shareholder Structure of Lion Fund Management Co., Ltd
Fund Operation Status of Lion Fund Management Co., Ltd
Shareholder Structure of Greatwall Fund Management Co., Ltd
Fund Operation Status of Greatwall Fund Management Co., Ltd
Fund Operation Status of China International Fund Management Co., Ltd
Shareholder Structure of Fullgoal Fund Management Co., Ltd
Fund Operation Status of Fullgoal Fund Management Co., Ltd
