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]

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.[7] [8] 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. 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 .
  8. 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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