Cerulli Associates represents new report Cerulli
Quantitative
Update:
Asset
Management Opportunities
in
China
2008. The research is based on the survey among significant Chinese asset managers and regional banks.
Cerulli is one of the first international research firms to conduct proprietary surveys with the large Chinese asset managers. According to its last report China will continue to be one of the faster growing asset management markets in the world, with assets estimated to cross RMB4.1 trillion (US$591.8 billion) in 2012.
The phase of extreme growth between 2003 and 2007 with the increase by 114.8% in mutual fund assets cooled. Between December 2007 and June 2008 Chinese assets witnessed a decline of 34.7%. As of June 2008 mutual fund assets stood at RMB2.1 trillion (US$318 billion).
Despite difficult market situation Cerulli believes China will continue to be one of the faster growing asset management markets in the world, with assets estimated to cross RMB4.1 trillion (US$591.8 billion) in 2012.
Taking into account the recent sharp declines in mutual fund assets the Chinese mutual fund market will grow at a slower CAGR of 4.1% over the next five years.
The Chinese asset management market is still largely domestic in nature, and will likely remain so for the next few years. There continues to be strong indications that much of the retail appetite for mutual funds will continue to be channeled via onshore funds, notwithstanding the much feted launch of the Qualified Domestic Institutional Investor (QDII) scheme.
The sheer momentum of recent growth will propel the countrys asset management industry to the top of the regional league tables over the next few years,” says Shiv Taneja, the firms London-based managing director and head of international research.
L.D.