China Southern Asset Management

China Southern Asset Management (Chinese: 南方基金管理股份有限公司; pinyin: Nánfāng jījīn guǎnlǐ gǔfèn yǒuxiàn gōngsī) is a Chinese asset management company founded in 1998. It is considered one of the largest asset management companies in China.[3]

China Southern Asset Management Co., Ltd.
Native name
南方基金管理股份有限公司
TypePrivate
IndustryFinancial services
FoundedMarch 6, 1998 (1998-03-06)[1]
Headquarters
Shenzhen, Guangdong, China[1]
AUMDecrease US$264 billion (December 31, 2022) [2]
OwnersHuatai Securities (41.16%)
Shenzhen Investment Holdings Co., Ltd (27.44%)
SubsidiariesCSOP Asset Management
Websitewww.nffund.com

History

The company was established on March 6, 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%.[4][5] CSOP Asset management currently has several ETFs on the Hong Kong Stock Exchange. In December 2022, it launched the first Bitcoin and Ethereum 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.[7][8]

References
  1. "Southern Asset Management: ready for more". GlobalCapital Asia. 22 May 2020.
  2. "Achievements". www.southernfund.com.
  3. "E Fund overtakes Tianhong as China's largest fund manager | Asia Asset Management". www.asiaasset.com. Retrieved 2022-09-17.
  4. "Mainland fund manager first in overseas foray". South China Morning Post. 2008-07-05. Retrieved 2022-10-29.
  5. "China SouthernÆs Hong Kong JV targets institutions | Moves". AsianInvestor. 2008-07-07. Retrieved 2022-10-29.
  6. "Crypto futures ETFs get tepid debut in Hong Kong amid market turmoil". South China Morning Post. 2022-12-16. Retrieved 2022-12-18.
  7. Anderlini, Jamil (April 23, 2008). "China cracks down on market 'ratholes'". www.ft.com. Retrieved 2022-10-29.
  8. "Mainland 'rat trader' handed to police". South China Morning Post. 2010-09-08. Retrieved 2022-10-29.
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