Opinion: China private fund growth and its pitfalls
There is a revolution taking place in the Chinese asset management industry, and it is gathering pace: the rise of the private fund industry. But this growth is happening out of kilter with China’s own plans for the asset management industry and new fund laws set to kick in could turn this burgeoning market on its head. Chris Wright reports.
According to fund researchers Z-Ben, 213 private funds were launched in China in the first half of 2010 with an average launch size of RMB150 million apiece. The 300-350 funds active in this area by now may well have over US$10 billion in assets between them.
The growth is
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