Foreseeing the trend of globalization, ChinaAMC has established a long-term vision of ¡°becoming a respectable asset management company with global influence¡± early in 2006, and made a great effort toward this goal.
Global Commitment
As China fulfils its WTO obligations and is exposed to international expertise and competition, international cooperation and exchange will become increasingly important. Since its beginnings in 1998, China Asset Management has maintained a global outlook and established a wide network of international business partners.
Global Investments
ChinaAMC is the one of the first batch of fund management companies to get qualifications for QDII business and to launch overseas investment product under the QDII rule released this year in China. Thanks to ChinaAMC¡¯s excellent brand name, superior performance track record and first class client services, ChinaAMC Global Select Fund, ChinaAMC¡¯s first QDII product, is well received by the domestic investors. The fund subscription for the first day of its IPO is over 9 billion USD, which is more than twice the quota approved by the CSRC.
With Chinese stock market at historical high, investment risk has been greatly accumulated and Chinese domestic investors urgently need extra investment vehicles to diversify the risks and to participate in the global economic growth. In response to the market conditions, ChinaAMC Global Select Fund is designed to offer a solution to the investors.
Global Partners
ChinaAMC is actively cooperating with foreign institutions to fine-tune and advance business techniques, promote the research and development of new products, implement international standards, as well as enhance and diversify our product line to provide more comprehensive service and products to meet varying investor needs.
In 2000, ChinaAMC established a technical cooperation relationship with Schroders to develop our first open-end fund business. In 2002, ChinaAMC hired Canadian firm CDP Capital, as our technical consultant to handle pension fund management systems. In 2004, China AMC appointed SSgA as its investment advisor to jointly develop the first Exchange Traded Fund (ETF) in China. Currently in launching the first QDII fund, ChinaAMC hired T. Rowe Price as its advisor. ChinaAMC has also established exchanges and personnel training relations with dozens of foreign institutions.
Global Clients
With China¡¯s growing stake in the global economic order, many firms including ChinaAMC clients also face the challenge of internationalization. With the implementation of the QFII program (Qualified Foreign Institutional Investors), which enables licensed companies to invest in RMB-denominated equity and bond markets, many overseas asset management institutions have become active players in the Chinese markets: a trend which we believe will continue and accelerate ChinaAMC is dedicated to continue developing its cooperation with foreign investors and giving our partners outstanding service and innovative products to tap into the growing Chinese market. Meanwhile, ChinaAMC is actively expanding its QFII advisory business.
Global Outlook
Our outlook continues to be global and as China¡¯s capital restrictions loosen, ChinaAMC is actively preparing our personnel, product R&D, back office operations, etc, to enhance our capacities for investment in global markets and start our overseas fund management business: making ChinaAMC a truly international fund management institution.
