DOCSLIB.ORG

ASSET MANAGEMENT in CHINA 2017 Transitioning Under a New System

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
ASSET MANAGEMENT in CHINA 2017 Transitioning Under a New System ASSET MANAGEMENT IN CHINA 2017 Transitioning Under a New System Overview & Methodology SUBSCRIPTION DETAILS In its 12th iteration, this report focuses on one of the biggest and most dynamic asset management markets in the region—China. It examines regulatory developments and their effect on the asset management ANNUAL industry, key retail product and distribution developments, institutional 143 PAGES demand, and cross-border product and distribution opportunities. $19,000 78 EXHIBITS This report includes two 24-page strategic overviews to supplement the full report. The 1Q 2017 Strategic Overview is available in April 2017, and the 2Q 2017 Strategic Overview is available in June 2017. PURCHASE INCLUDES Data comes from proprietary surveys of asset managers in China, and more than 30 interviews with asset managers, distributors, regulators, y Digital copy and hardcopy in color and other industry executives. y Online access to 11 related reports y Unlimited online firm-wide access Benefits: y Exhibits in Excel y Key findings y Understand the key trends in China’s asset management industry and potential strategies for foreign asset managers y Analyst support y y Analyze the onshore exposure of existing wholly foreign-owned Interactive Report Dashboards NEW enterprises y Executive Summary Video NEW y Assess the competitive landscape of China’s asset management RESEARCH INCLUDED WITH SUBSCRIPTION industry focusing on foreign managers’ entry routes y Review China’s retirement market and assess opportunities for y 9 years of The Cerulli Report - Asset Management managers in this sector in China y 2 years of The Cerulli Report - Asset Management in Questions Answered: China & India y What are the industry trends asset managers should take note of? y How should managers align their business strategies with the For more information, contact us: evolving regulatory system? y What are the routes that foreign asset managers can take to access ` [email protected] the China market, and how can managers stand out from the intense competition? y What is the landscape of China’s retirement market and how can managers access it? y How has fintech developed in China’s asset management space? Cerulli Interactive NEW Report Dashboards Experience Cerulli’s digital analytics platform and explore interactive data from this report We are pleased to include these interactive report dashboards with your subscription: 1. Chinese Mutual Fund Market Overview: Examine assets 3. Chinese Financial Products Landscape: Compare the under management by investment objective, net new Chinese product landscape by institutional/high-net-worth flows, net new flows by investment objective, and investors and mass-retail investors. distribution channel. 2. Chinese Institutional Market Overview: Analyze investable assets by institution type and institutional addressable assets in China. CERULLI ASSOCIATES | [email protected] | www.cerulli.com What are Interactive Report Dashboards? As part of your Cerulli report subscription, we are pleased to provide you with Interactive Report Dashboards that allow you to interact with report data in unique ways: ACCESS FILTER DATA EXPORT Access consolidated data from Apply filters to Cerulli report Easily build and export multiple report exhibits in a analyses including assets under custom charts. single comparative view. management, net new flows, Export options include; Excel, product type, channel, year, PDF, or image file. marketplace, and currency. My Account: Joe Q. Sample How to Access Interactive Report Dashboards This service is complimentary and is accessible through our website. Use USER LOGIN your unqiue Cerulli website login credentials, and you will find a “View To obtain online access, please Interactive Report Dashboards” link to this platform under “My Reports.” visit www.cerulli.com or contact our account management team at: Interact You can also jump to related Interactive Report ` [email protected] Dashboards in the report PDF by clicking on the ` +1 617-437-0084 View Dashboard “Interact” button shown on the left for reference. CERULLI ASSOCIATES | [email protected] | www.cerulli.com Chapter 2 Regulatory Restructuring Exhibit 2.05 China’s Financial Regulatory Structure Source: Cerulli Associates State Council Financial Stability and Development Committee People's Bank of China (PBoC) State Administration of Foreign Exchange (SAFE) Monetary policy Macro-prudential management China Banking Regulatory China Securities Regulatory China Insurance Regulatory Commission (CBRC) Commission (CSRC) Commission (CIRC) Banks, trusts, four financial Securities companies, futures Insurance companies, asset management compa- companies, fund manage- insurance asset management nies, non-bank deposit ment companies, exchanges, companies, Insurance Asset financial institutions, P2P, etc. Asset Management Management Association of Association of China China (IAMAC), etc. (AMAC), etc. 30 The Cerulli Report | Asset Management in China 2017 Table of Contents Table of Contents: Expanded Methodology ................................................................................. 11 Executive Summary ........................................................................... 13 Key Questions Answered . 14 1. What key industry trends in China in 2017 should asset managers take note of? ...........................................14 2. How should managers align their business strategies with the evolving regulatory system?..................................15 3. What is the competitive landscape like for foreign asset managers? ......................................................16 4. What is the state of China’s retirement market and how can managers access it?...........................................17 Exchange Rates............................................................................... 18 Exchange Rates .....................................................................................................18 Chapter 1: Overview of Key Asset Management Trends in China . 19 AAExhibit 1.01 Chinese Asset Management Industry Snapshot, 2014–2Q 2017..................................................20 Exhibit 1.02 Approved List of Public Funds of Funds, September 2017 . 21 Exhibit 1.03 Products of Fund Management Companies and Private Fund Companies, June 2017 ...............................22 Exhibit 1.04 Robo-Advisors in China ....................................................................................24 Exhibit 1.05 Snapshot of Portfolios and Subscribers to NetEase Dr.8, September 2017 . 25 Chapter 2: Regulatory Restructuring . 26 Exhibit 2.01 Banks’ Wealth Management Product Assets Under Management, 2014–2016 .....................................26 Exhibit 2.02 Breakdown of China’s Asset Management Industry, 2016.......................................................27 Exhibit 2.03 Two Examples of Closed-Loop Investment of Banks’ Assets .....................................................28 Exhibit 2.04 Key Decisions Made at National Financial Work Conferences, 1997–2017 .........................................29 Exhibit 2.05 China’s Financial Regulatory Structure .......................................................................30 Exhibit 2.06 Timeline of Key Regulatory Efforts in China’s Asset Management Industry, July 2016–July 2017 ......................31 Exhibit 2.07 Example of How a Fund Management Company’s Business Can Be Split into Different Subsidiaries ..................34 Chapter 3: Competitive Landscape.............................................................. 37 Exhibit 3.01 Chinese Mutual Fund Assets Under Management by Manager Type, 2011–June 2017 ..............................38 Exhibit 3.02 Largest 20 Mutual Fund Managers in China, June 2017 .........................................................39 The Cerulli Report | Asset Management in China 2017 7 Table of Contents Exhibit 3.03 Largest 20 Wholly Local Mutual Fund Managers in China, June 2017 .............................................41 Exhibit 3.04 Chinese Qualfied Domestic Institutional Investor Funds, 2008–2Q 2017 ..........................................42 Exhibit 3.05 Companies With Funds Approved or Pending Approval on the Mutual Recognition of Funds Scheme, August 2017.....44 Exhibit 3.06 Wholly Foreign-Owned Enterprise License Holders and Their Other Businesses, September 2017....................45 Exhibit 3.07 Chinese Private Fund Industry Snapshot, 2014–June 2017 ......................................................47 Exhibit 3.08 Number of Registered Private Fund Managers by Type and Size, August 2017 .....................................48 Exhibit 3.09 Process to Launch Private Funds Through Wholly Foreign-Owned Enterprises in China .............................49 Chapter 4: Pensions ........................................................................... 50 Exhibit 4.01 Chinese Demographics, 2001–2030E ........................................................................51 Exhibit 4.02 Chinese Retirement Market Size, 2012–2016..................................................................52 Exhibit 4.03 List of Qualified Onshore Fund Managers for Chinese Pension Business, August 2017..............................53 Exhibit 4.04 Snapshot of the First Pillar of the Chinese Pension System, 2017 . 55 Exhibit 4.05 Selected Chinese Retirement Scheme Returns, 2012–2016 .....................................................56 Exhibit 4.06 Snapshot of the Second Pillar of the Chinese Pension System, 2017 .............................................57
Load more

Recommended publications
  • China's 2020 Vision for Global Fund Managers
    Markets and Securities Services | China’s 2020 vision for global fund managers 1 CHINA’S 2020 VISION FOR GLOBAL FUND MANAGERS Around 25 years ago, the authorities in China began to develop their capital markets ambitions. Stock exchanges were opened in Shanghai and Shenzhen. Members of the general public were allowed to buy stocks and shares on the market, albeit their choices at the time were limited to mainly (former) State-Owned Enterprises (SOEs). Talks also began for allowing the creation of mutual funds and the setting-up of fund management companies. Few would have believed, at the time, that by In July 2019, it was announced that the date for 2019 China’s stock markets in aggregate would 100% foreign ownership of fund management become one of the top-three largest in the companies would be brought forward to world by size and the largest by trading volume. sometime in 2020, and in October 2019 it was The aggregate scale of the assets managed in confirmed this would apply from April 2020. mutual funds, wealth management products and These announcements confirmed that non- other schemes made available to citizens now Chinese firms could own 100% of a Mainland exceeds approximately USD20 trillion. Chinese fund management company, allowing unrestricted access to offer investment services There’s a fantastic success story to be told. Yet and products to the retail market. for the most part, many of the top prizes to date have been reserved for domestic businesses in During the last three years, Chinese regulators China. Foreign firms, i.e.
    [Show full text]
  • China's Asset Management Companies As State Spatial
    This is the version of the article accepted for publication in China Quarterly published by Cambridge University Press: DOI: https://doi.org/10.1017/S0305741019000018 Accepted version downloaded from SOAS Research Online: http://eprints.soas.ac.uk/25921 China’s Asset Management Companies as State Spatial–Temporal Strategy Sarah Ho1 2 Thomas Marois Abstract Chinese authorities created four new asset management companies (AMCs) in 1999, which have since undergone profound transformations that have been influential in China’s contemporary integration into the world market. Conventional interpretations see these powerful AMCs in largely technical and asocial terms. By contrast, we employ a critical geographical analytical framework to understand the transformation of the AMCs as an expression of state spatial–temporal strategy, which involved attempts to create conditions of political economic stability now by displacing the conditions of financial instability and crisis into the future. This strategy does not come without unintended and destabilizing consequences, nor is it without class-based social and political implications. 中国政府在 1999 年设立了四家资产管理公司，它们经历了重大变化，并对中国近年融入国际 市场的过程影响深重。对这些庞大的资产管理公司的解读，一般都从技术性及非社会性的层面 出发。相比之下，我们利用批判性的地理分析框架，把资产管理公司经历的变革理解为国家时 空管理策略的表现。该策略企图把现存的金融不稳定及危机推延至未来，以制造现时的政治经 济稳定。这策略的执行不仅藏有未遇见和不稳定的后果，亦为社会和政治上的阶级斗争带来启 示。 Keywords China, Finance, Asset Management Company, Political Economy, Spatial Strategy, Development, Transformation, Institutions 中国，金融，资产管理公司，政治经济，空间策略，发展，转型，机构 Sarah Ho is a qualified solicitor in Hong Kong and has completed her MSc Development Studies at SOAS University of London. Thomas Marois is a Senior Lecturer of Development Studies, SOAS University of London. He is author of the 2012 book, States, Banks and Crisis: Emerging Finance Capitalism in Mexico and Turkey (Edward Elgar). 1 The financial transformations experienced by the big emerging capitalisms like Brazil, Mexico, Turkey, India, South Africa, and China have been subject to increased study in their own right.
    [Show full text]
  • Lazard Ltd (Exact Name of Registrant As Specified in Its Charter)
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 23, 2014 Lazard Ltd (Exact name of registrant as specified in its charter) Bermuda (State or other jurisdiction of incorporation) 001-32492 98-0437848 (Commission (IRS Employer File Number) Identification No.) Clarendon House, 2 Church Street, Hamilton, Bermuda HM 11 (Address of Principal Executive Offices) (Zip Code) Registrant’s telephone number, including area code 441-295-1422 Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 2.02 Results of Operations and Financial Condition. On October 23, 2014, Lazard Ltd (the “Company”) issued a press release announcing financial results for its third quarter ended September 30, 2014. A copy of the Company’s press release containing this information is being furnished as Exhibit 99.1 to this Report on Form 8-K and is incorporated herein by reference.
    [Show full text]
  • China Asset Management Co Ltd Annual Report
    China Asset Management Co Ltd Annual Report Well-prepared and floristic Elias league her corrivals acidification eulogise and brainwashes dexterously. Is Giordano hearted or autobiographic after groomed Hamlin nabbed so necromantically? Langston is paravail and characterizing banteringly as unendowed Ozzie drum parabolically and humanise voluptuously. During the board comprises principally the same net inflows include financial services over the total ratio on management co ltd in infrastructure construction The Company employs JPMorgan Funds Limited 'JPMF' or the 'Manager' as its Alternative. This is our inner driver to do ESG integration. Ma Mingzhe has occupied both the positions of their Chairman its Chief Executive Officer request the Company. The balance represented the loans due to a third party, including for those risk types that cannot be reliably quantified. Annual Report either of AIs & LROs Hong Kong. Purchases and sales of securities, operation management, increasing the cost of goods sold. Profit net gain or sell selected insurance regulation authority required to waive any of audit involves intentions to act as cic strengthened budget implementation of this report. The Company will accelerate product innovations and enhance its capability of serving the real economy. The critical estimates and judgements are those associated with the recognition of impairment and the measurement of sound value. Reports and Presentations Mirae Asset Daewoo. The next day, a Golden Magnolia financial planner of CPIC Life Shanghai Branch, and product profitability. Yuediaoyan platform for individual insurance, nor entrusted investments remained stable growth was born in co ltd, the responsibilities as we continued to manage event that are remeasured. The Group manages insurance risk through underwriting strategies, working hour and promotion, the Company does not have any arrangement for share options.
    [Show full text]
  • RMB Qualified Foreign Institutional Investors(Rqfiis) with Investment Quotas Granted by the SAFE by September30, 2019 Unit: 100 Million Latest No
    RMB Qualified Foreign Institutional Investors(RQFIIs) with Investment Quotas Granted by the SAFE By September30, 2019 Unit: 100 million Latest No. Name of RQFII Registered Address Investment Quota Approval Date 1 CSOP Asset Management Ltd Hong Kong, China 2014.09.22 461.00 2 Harvest Global Investment Limited Hong Kong, China 2014.09.22 147.40 3 China Asset Management (Hong Kong) Limited Hong Kong, China 2013.07.26 218.00 4 Da Cheng International Asset Management Co., Ltd Hong Kong, China 2019.08.08 117.00 China Universal Asset Management (Hong Kong) 5 Hong Kong, China 2013.05.15 31.00 Company Limited 6 Bosera Asset Management (International) Co., Ltd Hong Kong, China 2014.08.26 96.00 7 HFT Investment (HK) Limited Hong Kong, China 2014.05.30 44.00 8 HuaAn Asset Management (Hong Kong) Limited Hong Kong, China 2013.05.30 39.00 9 E Fund Management (HK) Co., Limited Hong Kong, China 2014.05.30 272.00 ICBC Credit Suisse Asset Management 10 Hong Kong, China 2014.06.30 28.00 (International) Company Limited 11 CIFM Asset Management (Hong Kong) Limited Hong Kong, China 2012.12.26 8.00 12 GF International Investment Management Limited Hong Kong, China 2014.05.30 39.00 13 UBS SDIC Asset Management (Hong Kong) Limited Hong Kong, China 2014.06.30 28.00 14 Fullgoal Asset Management (HK) Ltd Hong Kong, China 2014.07.30 38.00 15 LFM Global Investment (Hong Kong) Co., Ltd Hong Kong, China 2014.05.30 10.00 16 ICBC Asset Management(Global) Company Limited Hong Kong, China 2014.03.28 23.00 17 Shenwan Hongyuan (International) Holdings limited Hong Kong, China
    [Show full text]
  • Representative Legal Matters
    Representative Legal Matters Derek Poon Advised Gaw Capital Partners and a consortium of institutional investors, including Schroder Pamfleet, on the HKD 9.845 billion acquisition of CityPlaza One office building from Swire Pacific and Swire Properties. Advised an investment fund on its participation in the USD 8.7 billion take-private of 58.com (NYSE: WUBA), China's largest online classifieds marketplace, by a consortium comprising among others, Warburg Pincus, General Atlantic and Ocean Link Partners. Prior to joining Baker McKenzie, Derek handled the following matters: M&A/Private Equity Represented Bain Capital on its: o acquisition of a controlling interest in Asia Pacific Medical Group, a leading private hospital group in the PRC with a portfolio of hospitals and clinics in the PRC and Southeast Asia. o acquisition of a majority stake in Daymon Worldwide Inc., a global leader of retail services. o USD 60 million subscription for shares of CITIC Pacific Limited (through East Crimson Holdings Limited). o USD 1.275 billion sale of FCI Asia Pte Ltd to Amphenol Corporation. o USD 1 billion (INR 68.54 billion) investment in Axis Bank, the third largest private sector bank in India through a subscription of shares and warrants. o acquisition of DSM Sinochem Pharmaceuticals. o acquisition of Xiamen Qinhuai Technology Company Limited (ChinData), a leading operator of hyperscale data centers in China, from Wangsu Science & Technology Co. Ltd., as well as the combination of ChinData with Bain Capital’s existing Bridge Data Centres platform. o its USD 1.6 billion acquisition of Apex Tool Group, LLC from Danaher Corporation and Cooper Industries plc.
    [Show full text]
  • Asia Asset Management Q3 2020
    ASIA ASSET MANAGEMENT Q3 2020 A Sheffield Haworth Publication featuring people news, industry updates, market trends and analysis Nick Aylwin-Foster George Windsor Emma Quan ASIA ASSET MANAGEMENT – Q3 2020 CONTENTS MARKET OVERVIEW pg 3 BUSINESS DEVELOPMENT pg 5 LEADERSHIP pg 6 CHINA pg 8 INVESTMENT & PRODUCT pg 10 2 2 ASIA ASSET MANAGEMENT – Q3 2020 MARKET OVERVIEW INTRODUCTION Another testing quarter for the asset management industry. The situation across much of Asia has continued to disrupt normal working patterns with most employees working remotely, amplifying the challenges of running a multi-faceted, international business. Despite these challenges, hiring activity has continued across a variety of functions indicating a willingness amongst managers to push through critical hires. Interestingly, hiring levels were slightly elevated against Q3 2019, although this is likely down to the lack of the summer ‘lull’ when decision makers typically take annual leave. NEWS ▪ UOB Asset Management has partnered with FNZ Group to launch a robo- advisory mobile app for retail investors in Singapore. In similar news, Franklin Templeton in Singapore has partnered with Razer Fintech to roll out a digital wealth management platform to target millennials in Southeast Asia. ◼ Affin Hwang Asset Management has teamed up with Versa Asia Kuala, a Kuala Lumpur-based fintech firm, to launch a digital cash management platform via a mobile app. ▪ AIA Thailand has received licences for private fund management and mutual fund management from Thailand’s regulator for its newly formed investment management subsidiary, AIA Investment Management Thailand. ▪ CCB Principal Asset Management in Hong Kong has been awarded licenses for asset management (Type9) and advising on securities (Type4).
    [Show full text]
  • Qualified Domestic Institutional Investors(Qdiis) with Investment Quotas Granted by the SAFE
    Qualified Domestic Institutional Investors(QDIIs) with Investment Quotas Granted by the SAFE By September30, 2019 Unit: 100 million USD No. Name of QDII Latest Approval Date Investment Quota 1 Bank of China, Ltd. 2018.06.28 8.00 Industrial and Commercial Bank of 2 2018.05.30 8.00 China Limited 3 Bank of East Asia (China), Ltd. 2014.12.28 2.00 4 Bank of Communications Co., Ltd. 2006.07.27 5.00 5 China Construction Bank Corporation 2014.12.28 5.00 6 HSBC Bank (China) Company, Ltd. 2015.03.26 34.00 7 China Merchants Bank Co., Ltd. 2014.12.28 2.00 8 China Citic Bank 2006.09.18 1.00 9 Hang Seng Bank (China) Company, Ltd. 2006.09.27 0.30 10 Citibank (China) Co., Ltd. 2006.09.27 34.00 11 Industrial Bank 2014.12.28 1.00 12 Standard Chartered Bank (China), Ltd. 2015.01.30 20.00 13 Minsheng Bank 2006.11.08 1.00 14 China Everbright Bank 2014.12.28 1.00 15 Bank of Beijing 2006.12.11 0.50 Bank of China (Hong Kong), Ltd. 16 2007.01.11 0.30 Branches in Mainland 17 Credit Suisse Shanghai Branch 2007.01.30 0.30 18 Agricultural Bank of China 2014.12.28 2.00 19 Nanyang Commercial Bank (China) Co., 2015.02.13 1.80 20 DeutscheLtd. Bank (China) Co., Ltd. 2007.08.17 0.30 21 Shanghai Pudong Development Bank 2007.08.31 0.30 22 Bank of Shanghai 2008.01.24 0.30 23 DBS Bank (China), Ltd.
    [Show full text]
  • Asia's Premier Trading Strategy and Technology Conference
    11th Annual Book by 30th August 2014 to save up to USD 900 19 - 20 November 2014 Marina Bay Sands, Singapore Co-located with: Asia’s premier trading strategy and technology conference GAIN INSIGHTS FROM: Christophe Roupie, Christoph Mast, Magnus Böcker, Ronan Ryan, Global Head of Trading and Managing director and global Chief Executive Officer, Chief Strategy Officer, Securities Financing, AXA head of trading, SGX IEX Investment Managers Allianz Global Investors Ray Kan, Rob Scott, Kent Rossiter, Sanjay Aswathi, Head of Information Head of Operations & Technology, Head of Asia Pacific Trading, Director, Technology, Nikko Asset Management Allianz Global Investors Eastspring Investments Allianz Global Investors Asia Limited Global heads of Asian heads of Shangai - Hong Kong Trading Architecture trading forum trading forum Connect Project Innovative trading technologies Asia’s role in a global portfolio Sourcing liquidity in Asia Access to China made easier? for better execution LEAD SPONSOR PRINCIPAL SPONSORS SPONSORS AND EXHIBITORS Register Now! www.tradetechasia.com [email protected] +65 6722 9455 Speakers Hear from 70+ thought leaders including: KEYNOTES Christophe Christoph Mast, Roupie, Global Managing director Magnus Böcker, Ronan Ryan, Head of Trading and global Chief Executive Chief Strategy and Securities head of trading, Officer, Officer, Financing, AXA Allianz Global SGX IEX Investment Investors Managers David Bridge, Alfred Sam Hou, Founding Member, TRADING EXPERTS Associate Director, Managing Member, President, PAAMCO
    [Show full text]
  • China Trust Industry Report
    China Trust Industry Report Going Back to the Fundamental Purpose, Serving the Real Economy, Driving New Growth, Committing to Transformation The Boston Consulting Group in collaboration with China Foreign Economic and Trade Trust Co., Ltd February 2018 About China Foreign Economic and Trade Trust Co., Ltd. Founded in 1987, China Foreign Economic and Trade Trust Co., Ltd. (FOTIC) is one of the oldest trust companies in China. It is a wholly-owned subsidiary of Sinochem Group, one of the world’s top 500 companies, and is a vice president unit of the China Trustee Association. In the past 30 years, FOTIC’s service concept has been “prospects from promises.” It is dedicated to building a modern financial company through professional operations and business procedures that are innovative, service- oriented and people-oriented, in order to provide comprehensive and complete finan- cial solutions to clients. FOTIC focuses on six major business lines: small and micro finance, industry finance, securities & trusts, capital markets, financial institutions and wealth management. It has a headquarters in Beijing and regional headquarters in east, south, southwest and northwest China. Its has operations nationwide. For more information, please visit: www.fotic.com.cn. About The Boston Consulting Group The Boston Consulting Group (BCG) is a global management consulting firm and the world’s leading advisor on business strategy. We partner with clients from the private, public, and not-for-profit sectors in all regions to identify their highest-value opportunities, address their most critical challenges, and transform their enterprises. Our customized approach combines deep insight into the dynamics of companies and markets with close collaboration at all levels of the client organization.
    [Show full text]
  • Investor Statement on Deforestation and Forest Fires in the Amazon This Statement Is Endorsed by 230 Investors Representing Approximately US $16.2 Trillion in Assets
    Investor statement on deforestation and forest fires in the Amazon This statement is endorsed by 230 investors representing approximately US $16.2 trillion in assets. It is with deep concern that we follow the escalating crisis of deforestation and forest fires in Brazil and Bolivia. As investors, who have a fiduciary duty to act in the best long-term interests of our beneficiaries, we recognise the crucial role that tropical forests play in tackling climate change, protecting biodiversity and ensuring ecosystem services. The recent reports from the Intergovernmental Panel on Climate Change (IPCC) and Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Service (IPBES) highlight the close links between unsustainable land use and climate change. With CO2 emissions rising and biodiversity declining faster than any time in human history1, these reports highlight the urgency in promoting sustainable land management to halt biodiversity loss, enhance food security and meet the goals of the Paris Agreement2. The Amazon, as the world’s largest rainforest, is a global repository of biological diversity, and provides invaluable ecosystem services which underpin economic activities across the globe. As the largest tract of continuous rainforest in the planet, the Amazon plays a critical role in the Earth’s climate system. Deforestation in the region could potentially bring the entire ecosystem dangerously near to a tipping point, after which the rainforest will not be able to maintain itself, gradually turning into a more Savannah-like system which is much dryer, less biodiverse, and stores significantly less carbon. This would severely disrupt the agricultural sector and other economic activities, by reducing rainfall and increasing temperatures in the longer-term.
    [Show full text]
  • 2014 | Investment Management Industry Review
    2014 | inVESTMENT MANAGEMENT INDUSTRY reVieW NEW YORK LONDON 535 Madison Avenue, 19th Floor Cayzer House New York, NY 10022 30 Buckingham Gate (212) 207 1000 London, SW1E 6NN United Kingdom DENVER +44 20 7828 2828 999 Eighteenth Street, Suite 3000 Denver, CO 80202 (303) 893 2899 Berkshire Capital seCurities limited is authorised and regulated By the FinanCial ConduCt authority (registration numBer 188637). memBer, Finra / sipC www.berkcap.com About berkshire CApitAl Partners Berkshire Capital is an independent employee-owned investment bank specializing in M&A h. bruce Mcever r. bruce Cameron Caleb W. burchenal (212) 207 1001 (212) 207 1013 (303) 893 2899 [email protected] [email protected] [email protected] in the financial services sector. With more completed transactions in this space than any other investment bank, we help clients find successful, long lasting partnerships. richard s. Foote robert p. Glauerdt t ed J. Gooden Founded in 1983, Berkshire Capital is headquartered in New York with partners located in (212) 207 1012 +44 20 7828 0024 (212) 207 1043 Philadelphia, Denver, London and Sydney. Our partners have been with the firm an average [email protected] [email protected] [email protected] of 12 years. We are recognized as a leading expert in the wealth management, money management, alternatives, real estate and broker/dealer industries. We believe our success bomy M. hong John h. humphrey D. scott ketner as a firm is determined by the success of our clients and the durability of the partnership we (212) 207 1825 +44 20 7828 2211 (212) 207 1042 help them to structure.
    [Show full text]