Global asset manager, Aberdeen Standard Investments (ASI) has launched its first onshore private fund in China and successfully completed its initial fund offering to eligible domestic investors.
This follows the registration of ASI’s wholly foreign-owned enterprise (WFOE), Aberdeen Standard Asset Management (Shanghai) Co. Ltd., as a private securities investment fund manager with the Asset Management Association of China (AMAC) at the end of 2017. The new China A-share fund (the “Fund”) is available to high-net-worth and institutional investors in the mainland China.
The Fund invests primarily in the A-share market, aiming to deliver sustainable investment returns by capturing China’s long-term growth potential. It adheres to ASI’s highly-regarded fundamental equity investment philosophy and bottom-up strategy, with an emphasis on quality, corporate governance and risk management. It is managed by the Shanghai-based investment team, with full support from the China and Asian equities teams in Hong Kong and Singapore.
The Fund invests in about 30 A-shares which demonstrate compelling quality to be long-term winners, with an initial focus on the consumer and services sectors. The investment team believes that China’s transition towards a consumption-driven economy bodes well for the future of quality companies in the consumer, travel, financial services (wealth management) and healthcare industries.
Amy Wang, Head of China at Aberdeen Standard Investments, said:
“China’s continued market liberalisation is set to create enormous new opportunities for both global and domestic investors. We received a strong vote of confidence and support from eligible investors and distributors as we marketed our first onshore private fund. This is testament to the strong track record of investing in China which our equity team has built up over two decades. The successful launch paves the way for our long-term growth. In tandem with the development of the local asset management industry, we are fully committed to expanding our onshore business. We hope to bring a diversified range of propositions across asset classes to the local investors in the coming years.”
Nicholas Yeo, Head of China Equities at Aberdeen Standard Investments, commented:
“We take a long-term view when investing in China. As the progressive financial reforms continue to improve the accessibility and liquidity of the domestic market, it is presenting active managers like us with new opportunities. We believe the consumer and services sectors are well positioned to benefit from the country’s economic growth. As ever, governance is core to our disciplined investment strategy. With more international investors’ participation in the A-share market going forward, it could shine a light on global best practice and help to raise governance standards of local companies over time. We look forward to uncovering more future winners in this growing market.”
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Notes to editors
Aberdeen Standard Investments is a leading global asset manager dedicated to creating long-term value for our clients, and is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments.
With over 1,000 investment professionals we manage $778.8 billion (£575.7 billion)* of assets worldwide. We have clients in 80 countries supported by 49 relationship offices. This ensures we are close to our clients and the markets in which they invest.
We are high-conviction; long-term investors who believe teamwork and collaboration are the key to delivering repeatable, superior investment performance. We are resolute in our commitment to active asset management.
Aberdeen Standard Investments is the asset management business of Standard Life Aberdeen plc, one of the world’s largest investment companies.
Standard Life Aberdeen plc is headquartered in Scotland. It has around 1.2 million shareholders and is listed on the London Stock Exchange. The Standard Life Aberdeen group was formed by the merger of Standard Life plc and Aberdeen Asset Management PLC on 14 August 2017.
*as at 31 December 2017
Aberdeen Standard Investments is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments.
The details contained here are for information purposes only and should not be considered as an offer, investment recommendation, or solicitation to deal in any investments or funds and does not constitute investment research, investment recommendation or investment advice in any jurisdiction.
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The People’s Republic of China (“PRC”) by Aberdeen Standard Asset Management (Shanghai) Co., Ltd in the PRC only. The United Kingdom by Aberdeen Asset Managers Limited. Authorised and regulated by the Financial Conduct Authority in the United Kingdom. Registered Office: 10 Queen’s Terrace, Aberdeen AB10 1XL. Registered in Scotland No. 108419.
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