Broadridge Unveils Asset Manager Rankings in China
Global fund managers in mainland China saw their assets grow in the second half of 2024, fuelled by market performance and sales.
Global fund houses saw their assets under management (AUM) in China grow in the second half of 2024 due to a stock market rally in late September and a rebound in the net sales of offshore inbound China funds, especially for exchange-traded funds (ETF), according to Broadridge.
«This AUM growth and brand improvement continued to fuel global managers’ momentum in China, with most seeing an uptick in their China Power Ranking scores,» said Evonne Gan, Broadridge director, APAC growth solutions.
Top 3 Players
J.P. Morgan Asset Management was ranked as the top player in the country with a 20 percent increase in its domestic long-term China fund assets with more than half of this growth attributable to its newly launched CSI A500 Index ETF. In addition, Broadridge cited «continued dominance in the Mutual Recognition of Funds business» by capturing demand for overseas bond exposure.
BlackRock came in second place as its local fund AUM surged by more than 160 percent in the second half of 2024 with strong momentum across both domestic and inbound channels while its bank wealth management joint venture, BlackRock CCB Wealth, saw assets more than double. iShares China ETFs also drew substantial inflows.
UBS Asset Management secured third place, following the integration of Credit Suisse’s China operations. Its AUM expanded with the final approval to acquire Credit Suisse’s 20 percent stake in ICBC Credit Suisse and the consolidation of its QDLP (qualified domestic limited partner) business. According to Broadridge, the Swiss firm’s stakes in two fund joint ventures enabled «broader market access despite more limited operational control».
