Displaying items by tag: wealth management

Vanguard hopes to break into the China market through its new partnership with Ant Financial. The two giants announced a joint venture on December 16, 2019, a financial roboadvisor service with an initial investment of approximately 20 million yuan (USD$2.86 million). Individuals with a minimum investment of 800 yuan (USD$115) may access the service, where they could build their investment portfolios from over 5,000 mutual funds offered by Ant Financial.

More and more Chinese individuals have accumulated a great amount of wealth thanks to the country’s economy boom in the past decades. As a result, the demand of wealth management is growing. With the help of new technologies, mobile wealth management (MWM) platforms are attracting more and more investors in China recently.

Yu’E Bao, the world’s largest money-market fund, may have to limit its individual investment amount at RMB500,000 (USD$72464), which is half of the amount the limit is now. The implications aren't for certain at this point, but it could mean the end of the platform's growth in the future. 

December 6th, 2016 China Merchants Bank (CMB) held its press conference in Shen’Zhen, China, for its new AI wealth management product: MachineGene Investment, or “Mo’Jie” in Chinese. The launch represented the first time a Chinese bank released a wealth management product based on AI/Robot technology.

Automated advisory platforms, or Robo-advisors, have shaken up the finance industry in many parts of the U.S. and Europe. China's wealth management industry is now the next in line to receive such a boost.

On May 6th, the People’s Bank of China (PBOC) changed its policy for investors in the interbank bond market. These modified regulations will open up the market to new types of investors including asset managers, housing provident funds, pension funds and charities.

A new partnership between CreditEase and Wellington has changed the rules with an incredibly easy way for the increasingly wealthy middle-class to invest abroad. 

Globally there have been few examples, if any, of traditional financial institutions getting full use of customer big data to provide a mass-market asset management product. There are of course specialized hedgefunds and wealth management products that track market sentiment, but few beyond that. In China however, Internet giant Baidu and now, more recently, E-commerce tycoon Alibaba group are both changing the fintech landscape by how they are leveraging big data to bring new products to market. 

Shanghai based Lufax, one of China’s biggest P2P platforms, has just received a USD 483 million-worth investment from foreign institutional and private investors. Is the investment rearranging deck-chairs on a sinking ship or a clear signal that everything is fine in the troubled P2P industry?

A few days ago, the upstart Chinese manufacturer of android-based smartphones Xiaomi launched a public beta of their new online money-market fund. With Chinese tech companies furiously investing in and creating platforms bundling key products and services together, could we see Xiaomi competing directly with Alipay and Wechat in the near future?