E Fund Management Explained

E Fund Management Co., Ltd.
Native Name:易方达基金管理有限公司
Type:Private
Industry:Financial services
Hq Location City:Guangzhou, China
Aum:US$420 billion (September 2023)[1]
Owners:GF Securities (22.65%)
Guangdong Yuecai Trust (22.65%)
Infore Group (22.65%)
Guangdong Rising Holdings Group (15.1%)
Guangzhou Guangyong State Owned Assets Management (7.55%)
Subsid:E Fund Management (Hong Kong) Co., Limited
Footnotes:[2] [3]

E Fund Management is a Chinese asset management company founded in 2001. It is considered the largest asset management company in China.[3] [4]

History

The company was established on 17 April 2001.[2] The initial shareholders were GF Securities, Guangdong Yuecai Trust, Guangdong Securities (liquidated in 2005[5]), Chongqing International Trust, Tianjin Trust and Northern International Trust.[6]

In 2004, the Midea Group acquired the company's shares from Tianjin Trust and Northern International Trust and in 2005, increased its ownership to 25% after acquiring Guangdong Securities' stake.[7] In 2007, the Midea group transferred its entire stake in the company to the Infore Group.[8] [9] He Jianfeng (son of Midea Group founder He Xiangjian) is considered to be the owner of the Infore Group.

In 2008, the company established a Hong Kong Subsidiary named E Fund Management (Hong Kong) Co., Limited.[10]

The company's flagship mutual fund is the E Fund Blue Chip Selected Mixed Fund which had $8.3 billion in assets under management as of April 2023. In 2020 it has a return of 95% in 2020 which attracted significant subscriptions but in 2021 and 2022 it dropped 10% and 16% respectively.[11] [12]

External links

Notes and References

  1. Web site: E Fund . E Fund Management Company Limited . en . 21 March 2019 . 18 May 2023 . 18 May 2023 . https://web.archive.org/web/20230518143012/https://www.efunds.com.cn/en/index.htm . live .
  2. Web site: China's E Fund and Dutch APG Introduce Financial Future Planning Academy - PR Newswire APAC . en.prnasia.com . en-us.
  3. Web site: Zhou . Twinkle . March 2022 . senior reporter . US$425B Chinese asset manager seeks to launch Singapore unit . Asian Private Banker . 31 March 2022 . 29 October 2022 . 28 November 2022 . https://web.archive.org/web/20221128083635/https://asianprivatebanker.com/funds/us425b-chinese-asset-manager-seeks-to-launch-singapore-unit/ . live .
  4. 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 .
  5. Web site: People's Daily Online -- Liquidation going on with Guangdong Securities Co. . 17 September 2022 . en.people.cn . 20 September 2022 . https://web.archive.org/web/20220920170347/http://en.people.cn/200511/08/eng20051108_219901.html . live .
  6. Web site: 10 August 2021 . 美的参股易方达 . 17 September 2022 . https://web.archive.org/web/20210810030044/http://news.gd.sina.com.cn/finance/2004-10-13/719137.html . 10 August 2021 .
  7. Web site: 美的电器：成易方达并列最大股东-搜狐财经 . 17 September 2022 . business.sohu.com . 10 August 2021 . https://web.archive.org/web/20210810030044/https://business.sohu.com/20050629/n226124234.shtml . live .
  8. Web site: 10 August 2021 . 美的电器转让易方达基金股权玄机大揭秘 . 17 September 2022 . https://web.archive.org/web/20210810030046/http://futures.money.hexun.com/2184481.shtml . 10 August 2021 .
  9. Web site: 9 June 2017 . Here comes the son . 17 September 2022 . Week in China . en-US . 20 September 2022 . https://web.archive.org/web/20220920170504/https://www.weekinchina.com/2017/06/here-comes-the-son/ . live .
  10. Web site: 22 December 2017 . E Fund wants to help connect Chinese investors to global markets . 18 September 2022 . South China Morning Post . en . 20 September 2022 . https://web.archive.org/web/20220920171514/https://www.scmp.com/business/money/wealth/article/2125304/e-fund-wants-help-connect-investors-opportunities-new-markets . live .
  11. Web site: 31 March 2023 . China’s biggest fund manager bets on Tencent, liquor distillers, dairy producer . 2 October 2023 . South China Morning Post . en . 28 April 2023 . https://web.archive.org/web/20230428115743/https://www.scmp.com/business/china-business/article/3215439/tencent-kweichow-moutai-among-top-china-fund-managers-stock-picks-after-reopening-and-market-rout . live .
  12. News: Zhen . Summer . Shen . Samuel . 9 June 2023 . China mutual fund sales dry up amid market gloom . en . Reuters . 2 October 2023 . 9 June 2023 . https://web.archive.org/web/20230609074756/https://www.reuters.com/markets/asia/china-mutual-fund-sales-dry-up-amid-market-gloom-2023-06-09/ . live .

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "E Fund Management".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.