China Southern Asset Management Explained

China Southern Asset Management Co., Ltd.
Native Name:南方基金管理股份有限公司
Type:Private
Industry:Financial services
Founded:[1]
Hq Location City:Shenzhen, Guangdong, China
Aum:US$284 billion (September 2023)[2]
Owners:Huatai Securities (41.16%)
Shenzhen Investment Holdings Co., Ltd (27.44%)
Subsid:CSOP Asset Management

China Southern Asset Management is a Chinese asset management company founded in 1998. It is considered one of the largest asset management companies in China.[3]

History

The company was established on 6 March 1998, as one of the first local asset management companies in China that was approved by the China Securities Regulatory Commission.[1]

In 2008, the company set up a joint venture in Hong Kong with Oriental Patron.[4] [5] The joint venture was named CSOP Asset Management with China Southern Asset Management paying HK$140 million for a 70% stake and Oriental Patron paying HK$60 million for the remaining 30%. CSOP Asset management currently has several ETFs on the Hong Kong Stock Exchange. In December 2022, it launched the first Bitcoin and Ethereum futures ETFs in Hong Kong.[6]

In July 2024, China Southern Asset Management launched an ETF that focused on Saudi Arabian stocks that was listed on the Shenzhen Stock Exchange. It was popular amongst Chinese investors where it hit the first-day price limit and raised 634 million yuan (US$87 million). It offered Chinese investors convenient access to markets in Saudi Arabia in areas such as energy and oil which were previously difficult to access due to overseas regulations.[7] [8]

Regulatory issues

In 2008, Wang Limin who was previously a manager at China Southern Asset Management was banned for seven years from participating in China's capital markets and fined 500,000 RMB after making a profit of 1.5 million RMB via Rat Trading.[9] [10] This involved buying shares in companies his funds invested in and then selling them for a profit.

External links

Notes and References

  1. Web site: Southern Asset Management: ready for more . GlobalCapital Asia . en . 22 May 2020 . 29 October 2022 . 25 September 2022 . https://web.archive.org/web/20220925080023/https://www.globalcapital.com/asia/article/28mu78qvhhb8zoxnkudj4/emerging-markets/southern-asset-management-ready-for-more . live .
  2. Web site: Achievements. www.southernfund.com. 29 October 2022. 4 February 2020. https://web.archive.org/web/20200204155942/http://www.southernfund.com/en/achiv. live.
  3. Web site: E Fund overtakes Tianhong as China's largest fund manager Asia Asset Management . 17 September 2022 . www.asiaasset.com . 16 March 2024 . https://web.archive.org/web/20240316031937/https://www.asiaasset.com/post/24681-z-ben-0528 . live .
  4. Web site: 5 July 2008 . Mainland fund manager first in overseas foray . 29 October 2022 . South China Morning Post . en . 16 March 2024 . https://web.archive.org/web/20240316031957/https://www.scmp.com/article/644146/mainland-fund-manager-first-overseas-foray . live .
  5. Web site: 7 July 2008 . China SouthernÆs Hong Kong JV targets institutions Moves . 29 October 2022 . AsianInvestor . 21 January 2022 . https://web.archive.org/web/20220121122030/https://www.asianinvestor.net/article/china-southern%C3%86s-hong-kong-jv-targets-institutions/116193 . live .
  6. Web site: 16 December 2022 . Crypto futures ETFs get tepid debut in Hong Kong amid market turmoil . 18 December 2022 . South China Morning Post . en . 17 December 2022 . https://web.archive.org/web/20221217180235/https://www.scmp.com/tech/tech-trends/article/3203539/crypto-futures-etfs-debut-hong-kong-lukewarm-interest-after-market-turmoil-ftx-collapse . live .
  7. News: 2024-07-15 . China Investors Can Now Trade Saudi Stocks on Two ETFs . 2024-10-27 . Bloomberg News . en.
  8. Web site: Jiaxing . Li . 2024-07-16 . Saudi ETFs make winning China debut as financial ties with Middle East grow . 2024-10-27 . South China Morning Post . en.
  9. Web site: Anderlini . Jamil . 23 April 2008 . China cracks down on market 'ratholes' . 29 October 2022 . www.ft.com . 30 November 2022 . https://web.archive.org/web/20221130120221/https://www.ft.com/content/2b7d44ca-108b-11dd-b8d6-0000779fd2ac . live .
  10. Web site: 8 September 2010 . Mainland 'rat trader' handed to police . 29 October 2022 . South China Morning Post . en . 16 March 2024 . https://web.archive.org/web/20240316031935/https://www.scmp.com/article/724213/mainland-rat-trader-handed-police . live .

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