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]
AUMUS$284 billion (September 2023)[2]
OwnersHuatai Securities (41.16%)
Shenzhen Investment Holdings Co., Ltd (27.44%)
SubsidiariesCSOP Asset Management
Websitewww.nffund.com

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]

History

The company was established on 6 March 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. 1 2 3 "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 17 September 2022.
  4. 1 2 "Mainland fund manager first in overseas foray". South China Morning Post. 5 July 2008. Retrieved 29 October 2022.
  5. 1 2 "China SouthernÆs Hong Kong JV targets institutions | Moves". AsianInvestor. 7 July 2008. Retrieved 29 October 2022.
  6. ↑ "Crypto futures ETFs get tepid debut in Hong Kong amid market turmoil". South China Morning Post. 16 December 2022. Retrieved 18 December 2022.
  7. 1 2 Anderlini, Jamil (23 April 2008). "China cracks down on market 'ratholes'". www.ft.com. Retrieved 29 October 2022.
  8. 1 2 "Mainland 'rat trader' handed to police". South China Morning Post. 8 September 2010. Retrieved 29 October 2022.
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