久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Mutual funds set to fly, says McKinsey

By Jiang Xueqing | China Daily | Updated: 2021-01-26 09:51
Share
Share - WeChat
The money from individual investors will become a major source of new funding for China's mutual funds. [Photo/Sipa]

Capital market reform, new rules may yield annualized rate of 18% in 2019-25

China's mutual funds are expected to maintain high growth at an annualized rate of 18 percent from 2019 to 2025 as a result of the country's capital market reform, said McKinsey & Co.

Another big factor is the accelerated implementation of new asset management rules unveiled in 2018.The rules now regulate the asset management businesses of financial institutions, and have already helped restructure the asset management market, the global management consulting firm said.

The rules require commercial banks to make a transition from offering principal-protected wealth management products toward offering WMPs valued on a net asset basis, which refer to non-principal-protected WMPs with floating rates of return, so that investors can make investments at their own risk based on a solid understanding of the risks.

Total assets under management, or AUM, of financial institutions delivering active investment strategies, such as mutual funds, private security investment funds, private equity investment funds, and insurance asset management companies, reached more than 59 trillion yuan ($9.13 trillion) in the first half of 2020. They accounted for 51 percent of China's total AUM.

The proportion surpassed that of trust companies and the wealth management subsidiaries of brokerages and banks for the first time, said McKinsey in a report on Thursday.

Many mutual funds launched alternative solutions targeting the wealth management subsidiaries of commercial banks this year, to help them make a better transition toward offering WMPs valued on a net asset basis, said Ma Ben, partner at McKinsey.

Total AUM of China's mutual funds rose to 18 trillion yuan in 2020, up from 14 trillion yuan in 2019 and 11 trillion yuan in 2017, said Ba Shusong, chief economist at the China Banking Association.

Apart from growth acceleration in terms of market size last year, the mutual funds market also experienced structural changes.

In the past, individual investors usually bought stocks on their own, but more and more investors have now become used to investing in the capital market via funds or via asset management companies or AMCs. So, the influence of institutional investors on the market has significantly increased, Ba said.

"The money from individual investors will become a major source of new funding for China's mutual funds," said Ma at McKinsey.

"A large number of investors have increasingly accepted the idea of long-term investing and asset allocation. As banks' explicit and implicit guarantees to investors on wealth management products, which we call 'a free lunch', are coming to an end, individual investors become increasingly focused on how to achieve their investment goals by allocating assets into financial products that have some fluctuations," he said.

Compared with the market size of US mutual funds, which now stands for 120 percent of US GDP, the market size of Chinese mutual funds stands for about 17 percent of China's GDP. So, it has tremendous potential for growth, the McKinsey report stated.

To bridge the gap between leading mutual funds in China and the rest of the world, McKinsey said Chinese mutual funds must build up core competencies in areas like research and development, product management, retail channel distribution, comprehensive risk management, digital marketing, and data-driven asset management.

McKinsey forecast that China's total AUM will hit 196 trillion yuan in 2025, up from 116 trillion yuan in the first half of 2020. The annual growth of AUM will exceed 9 percent on average from 2019 to 2025.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 日本大臿亚洲香蕉大片 | 国内自拍视频在线看免费观看 | 免费看的一级片 | 欠草视频 | 成人免费的性色视频 | 久久亚洲综合中文字幕 | 久久久久久久免费视频 | 免费高清一级欧美片在线观看 | 亚洲第一区精品日韩在线播放 | 欧美激情中文字幕 | 黄网站色成年小说系列 | 日本在线观看免费视频 | 亚洲视频在线免费观看 | 亚洲国产精品二区久久 | 国产午夜小视频 | 欧美日韩亚洲高清不卡一区二区三区 | 国产精品亚洲欧美日韩区 | 天天噜夜夜操 | 91精品国产一区二区三区左线 | 亚洲欧美午夜 | 扒开两腿猛进入爽爽视频 | 久久久不卡国产精品一区二区 | 精品视频一区二区三区免费 | 视频在线亚洲 | 国产国模福利视频 | 68久久久久欧美精品观看 | 国产人做人爱免费视频 | 欧美综合一区二区三区 | 久久久久国产精品免费看 | 精品综合久久久久久98 | 久久精品视频在线观看榴莲视频 | a高清免费毛片久久 | 国产亚洲美女精品久久 | 久草视频在线免费 | 狠狠做久久深爱婷婷97动漫 | 一本久久道久久爱 | 日本成人一级片 | 中文字幕中文字幕中中文 | 国产欧美在线观看不卡 | 日本人在线看片 | 一级a俄罗斯毛片免费 |