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Securities firms see AM biz rebound after 2-yr contraction

June 17, 2020


Abstract : Securities brokers in China saw finally their asset management (AM) business rally after contracting for more than two years by March, reported sector portal Securities Times Wednesday.

BEIJING, June 17 (Xinhua) -- Securities brokers in China saw finally their asset management (AM) business rally after contracting for more than two years by March, reported Securities Times Wednesday.

By the end of April, securities and futures brokers had in total 18.11 trillion yuan of privately-placed AM products under their management, including 8.9 trillion yuan of passageway business, down 2.9 percent over March and actively-managed products of 8.70 trillion yuan, up 5.3 percent on month, showed statistics with Asset Management Association of China (AMAC).

Analysts attributed the rebound to a new round of demand for entrusted investments from banks in the country, saying that it is now harder and harder for traditional AM products of banks to meet market demand.

Despite the fact that many AM business subsidiaries of banks also joined the AM market recently, their solid client basis and marketing channels, however, failed to offset their weakness in investment and research, resulting in increasing flows of fund for entrusted investment from banks to AM institutions such as AM business units of securities brokers and publicly-offered funds management firms.

In China, AM business units of securities brokers are the main undertakers for entrusted investments of banks given their combined advantages in research, AM, investment banks business, and brokerage.

Data with AMAC showed securities and futures brokers completed filing for 854 privately-placed AM products in April, with their fund size totaling 83.69 billion yuan and 460 ones are fixed-income products, with fund size at 57.69 billion yuan, accounting for or 68.94 percent of the monthly aggregate. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)

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Keyword: asset management securities brokers

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