Chinese alternative investment can provide strong alpha generation opportunities for global investors yet there are also a few challenges ahead. Richard Johnston of Albourne Partners talks about the pros and cons of China's alternative investments. 24 August 2020 Chinese alternative investments (hedge funds plus private market investments) have proved to be a strong alpha generator and caught increasing attention from global investors. Yet the manager selection, due diligence, and ongoing monitoring is no light job at all. Richard Johnston, Partner and Head of Asia for Albourne Partners, the alternative investment advisory firm for global institutional investors, talked [...]
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The Pandemic hit the Chinese PE industry but tech-driven investments get an unexpected boost. Rafael Ratzel of Beijing based TH Capital talked about the various PE investment themes post COVID-19 in China. 05 August 2020 Private equity has been a popular option for global investors in their China asset allocation. But how much damage has the COVID-19 pandemic made to the PE industry in China and is it a good time to invest? If so, what sort of investment themes to pursue? ATC interviewed Rafael Ratzel, Executive Director & Head of International Investments of TH Capital, who [...]
Active quantitative investment in China A-share market is still in its early stage, which can leverage the market efficiency and generate positive alpha opportunities. One of the leading quantitative portfolio managers, Hanqing Tian, portfolio manager & CIO and Deputy General Manager of Huatai-Pinebridge Fund Management Co., Ltd. shared her views on the active quantitative strategies in China A-share market. 27 July 2020 When approaching the Chinese equity market, global investors are usually faced with the choice of active vs passive/rule-based strategies. Now there is a somewhat hybrid in China called “active quantitative strategies” which has proved to [...]
ESG investment has become a fast-development phenomenon in China. What are the key drivers and how sophisticated are different players? Dr Dequan Wang, founder and CEO of Governance Solution Group shares his observations. 20 July 2020 It may be a surprise to you, but ESG is among the hottest topics in the Chinese investment community these days. A total of 48 Chinese organisations have become PRI signatories and 3 quarters of them are asset managers. Quite a number of ESG initiatives have been launched by regulators, trade associations and market players. This is a big contrast to [...]
Foreign institutional investors keep increasing their holdings of Chinese bonds for 19 consecutive months. What makes China’s bond market attractive to foreign investors? Edmund Goh from Aberdeen Standard shared his views. 13 July 2020 In the first half of 2020, data from CCDC (China Central Depository & Clearing Co., Ltd.) shows an increase of RMB319.04 billion in foreign institutional investors’ holding of Chinese bonds, 2.3 times the same period last year. Foreign institutional investors keep increasing their holdings of Chinese bonds for 19 consecutive months, despite the COVID-19 pandemic. As of the end of June 2020, around [...]
Coal Pension Trustees, one of the largest pension schemes in the UK, has been a pioneer in China capital market investment. Mark Walker, Chief Investment Officer of Coal Pension Trustees, talked about their ESG policy in China manager selection. 6 July 2020 Coal Pension Trustees, with an invested asset value of GBP 20 billion, is one of the largest pension schemes in the UK. Despite the pensioners were supported by fossil fuel industries in the past, ESG is getting higher and higher up the agenda, especially climate change and employee rights. Coal Pension Trustees has been a [...]
China has come up with a post-COVID-19 recovery package focusing on stability and tech innovation, without a GDP growth target. Nicholas Chui of Aberdeen Standard explained the logic behind this unusual package and shared his new equity investment themes. 29 June 2020 Recently, the Chinese government revealed its economic recovery package post-COVID-19. Much different from the 4-trillion RMB stimulus package China adopted in 2008 amid the global financial crisis, this recovery package has a much smaller headline figure but has a clear focus on supporting economic stability, SME development and technology innovation. It is also the first [...]
Will the recent breakthrough in QFII regulation bring the scheme back to the central stage as a preferred access channel to China's capital market? Melody Yang of Simmons & Simmons and Eugenie Shen of ASIFMA share their insight. 24 June 2020 On 7th May 2020, Chinese Central Bank (PBOC) and State Administration of Foreign Exchange (SAFE) announced a new set of rules for QFII/RQFII account management. It lifts the quota limitation and substantially simplifies the process of investment proceeds repatriation. The top financial official also confirmed at the recent Shanghai Lujiazui Forum that the long-awaited new breakthroughs [...]
Author: Robert Parker, Chairman of Asset Management and Investors Council, International Capital Market Association (ICMA) ATC Thought Leadership An interesting question for investors at present is how Chinese fixed income markets will develop and how these assets can be included in investment portfolios. This question is relevant given the negative or low nominal and real yields in most fixed income markets at a time when a number of changes are occurring to open the Chinese market to foreign investors. A summary from the recent meeting of the Chinese Financial Stability and Development Committee stated that "China will take further [...]
Published on IPE Magazine (September 2019) Author: Sun Wei, Founder of ATC Initiative Notes on 11 Sept 2019: yesterday the big news is that Chinese regulator (SAFE)announced the decision to remove quota on QFII/RQFII. This is another big step in opening up Chinese capital market. Below is an article I have written for the Sept issue of the IPE magazine. It compares various channels for China market access and points out the healthy competition between QFII and the Stock-Connect programs. The article can also be found at: https://www.ipe.com/reports/special-reports/china/capital-markets-all-roads-lead-to-china/10032998.article As the second largest economy in the world, China’s economic significance [...]