CHINA DAILY HONG KONG EDITION Friday, July 6, 2018 Markets | BUSINESS 21 Futures market opening up

UK’s Winton Group to develop onshore ry environment improves, the firm’s Chinese business investment products within 2 months will have the biggest upside globally. By CAI XIAO in dominance, while some We are going to Man Group launched its and ZHOU LANXU other markets, such as egg, first onshore fund called AHL are unique. launch a futures China CTA in December, London­based hedge fund Yang said Winton Group focusing initially on listed manager Winton Group Ltd has a strong, long­term com­ fund product in futures, including agricultur­ said it will launch a futures mitment to the Chinese mar­ al commodities, industrial fund in China within two ket and will seize the China within one commodities, bonds, metals, months, reflecting its opti­ opportunity brought about or two months ...” and energy and stock indices. mism about the nation’s asset by the further opening­up of The company registered its management market. the country’s financial sec­ Yang Min, CEO of Winton China second onshore fund in May, Winton has just successful­ tor. focusing on the Chinese ly registered as a private secu­ The onshore fund will use a A­share market. rities investment fund diversified trading strategy bear our international and Deng Haiqing, visiting manager with the Asset Man­ based on data collection and local experience for the bene­ finance professor at Renmin agement Association of Chi­ analysis. The target clients fit of our Chinese clients.” University of China, said with Visitors check out services of Liepin, an online job search company listed in Hong Kong, at the compa­ na, which will enable it to include Chinese banks, third­ A Deloitte report showed more foreign asset manage­ ny’s booth during a high­tech exhibition in Beijing. WANG QIN / FOR CHINA DAILY develop onshore investment party wealth management that by 2019, China will ment companies entering the products for qualified inves­ agencies, companies and account for nearly half of the Chinese mainland market, tors on the Chinese main­ high­net­worth individual global industry’s net new investors can have more land. investors. flows, to become the second­ choice, and the market will “We are going to launch a Yang said Winton will largest asset management become more diversified and Falling stock prices, weak trend futures fund product in China launch another onshore fund market in the world. By 2030, international. within one or two months, aft­ focusing on the Chinese China will reach over $17 tril­ Deng said it is also positive er getting approval from Chi­ A­share market when the lion in addressable assets for the yuan’s internationali­ fail to temper HK listing plans nese regulators,” said Yang opportunity arises. under management. zation, as foreign asset man­ Min, CEO of Winton China. “China’s asset management Luke Ellis, CEO of Man agers will improve their By LUO WEITENG months after it went public in days when investors just “The fund will cover most industry has great potential, Group Plc, another global understanding of the ren­ in Hong Kong Shanghai. closed their eyes and bought futures categories including and Winton is excited to par­ leading asset management minbi and increase use of the [email protected] “Many of the pending deals into the new economy deal are crude oil, iron ore and rubber.” ticipate in the market,” said company, said in May that if Chinese currency. basically track the listing essentially gone,” said Fielding Yang added that certain Fred Tian, head of client advi­ China’s asset management Despite disappointing mar­ regime reform in Hong Kong Chen Shiyuan, a Hong Kong­ commodity futures in China, sory at Winton China. “We market maintains its develop Contact the writers at ket performance and luke­ that paves the way for compa­ based Asia economist at such as iron ore, have grown look forward to bringing to momentum and the regulato­ [email protected] warm investor appetite casting nies with the dual­class share Bloomberg Intelligence. a shadow over the new econo­ structure and early­stage bio­ Amid mounting concerns my IPO frenzy, a flurry of main­ tech firms to raise funds,” said about hefty pricing and valua­ land companies have lost no Edward Au, co­leader of the tions that prove hard to sus­ time in filing their IPO applica­ national public offering group tain, the new economy frenzy Overseas hedge funds register on mainland tions in Hong Kong, in their of Deloitte China. has fizzled out. Among the 19 quest to cash in on the city’s list­ Hong Kong remains in the Chinese mainland companies By CAI XIAO ment Management (Shang­ ness in the Chinese equities tensions between the United ing regime reform and raise sweet spot to harness Chinese that raised a combined total of and ZHOU LANXU hai) Ltd, both wholly foreign­ and futures markets in the States and China, and the funds before a potential rever­ mainland floats. Over the first HK$36.1 billion in Hong Kong owned enterprises. years ahead,” Harding said. stock market slump,” Ma said. sal from peak valuations. half of the year, nearly three in this year, nine firms traded Global hedge fund manage­ Regulations stipulate the Winton initially began col­ China will implement more Despite muted demand five newly minted stocks have below their offering prices on ment firms Bridgewater Asso­ asset managers must launch lecting and studying data for supportive policies for further from retail investors and a sus­ come from Hong Kong­based the first day of trading. As of ciates LP and Winton Group products within six months Chinese mainland markets in opening­up and financial tained stock market down­ companies. However, Chinese Thursday, only five companies Ltd have received Chinese pri­ of registering. 2008, with the launch of its innovation, which is good for turn, Chinese mainland mainland firms still contribut­ managed to stay above their vate securities investment Thirteen foreign asset first diversified trading strat­ the healthy development of smartphone maker Xiaomi ed to more than 80 percent of offering prices. fund manager licenses, in a managers have registered in egy for Chinese futures mar­ the entire capital market, Ma remains on track to debut in funds raised, according to the As escalating Sino­US trade sign of the government’s deter­ this way since last September, kets in 2010. said. Global leading foreign Hong Kong next Monday. latest report from Deloitte. tensions weigh on global equi­ mination to further open up including Man Group Plc, “I am so glad to hear the asset managers will also bring Other deals in the pipeline This trend will pick up ty markets, newly listed com­ the mainland’s financial sector. Fidelity International, Black­ news because it shows the advanced management ideas include those from Tencent­ steam in the second half of panies are in for a bumpy ride Registering with the Asset Rock Inc, UBS Group AG, Chinese government has a on customer service and more backed online food review 2018, said Deloitte, which pro­ in Hong Kong, Chen said. Management Association of Bridgewater and Winton. positive attitude toward sophisticated investment risk and delivery company Meitu­ jects at least five HK$10 billion “Looking ahead, boom or China will enable Bridgewa­ David Harding, CEO of Win­ opening­up,” said Ma Wenya, warning. an­Dianping, online travel ($1.27 billion) IPOs from the bust, it is the company’s fun­ ter and Winton to develop ton, said the firm’s registration general manager of Sunday The China Securities Regu­ agent Tongcheng­eLong, new economy sectors and damentals that have a big say onshore investment products will allow it to continue build­ Fund Co Ltd, a Chengdu, latory Commission said last livestreaming app Ingkee, and roughly 10 unicorns — startups in the valuation and market for qualified investors in the ing its business in the Chinese Sichuan province­based asset June that qualified wholly steel and iron e­commerce valued at $1 billion or more — performance of the newly Chinese mainland, the associ­ market for the long term. management company. foreign­owned enterprises Zhaogang. will list in Hong Kong in the minted stocks,” Au said. ation said on Wednesday. “We have been successfully “The Chinese government and joint­venture companies WuXi AppTec, the Shang­ coming six months. The flagship benchmark The registrations were advising Chinese investors in has a firm determination to can apply to become privately hai­based biotechnology firm, “Moreover, many compa­ Hang Seng Index was down 0.21 granted to Bridgewater (Chi­ Chinese futures markets for steadily promote the further offered fund managers at the also announced plans to sell nies are catching the last bus percent, or 59.58 points, to close na) Investment Management eight years, and we look for­ opening­up of its financial sec­ Asset Management Associa­ shares in Hong Kong, just two to raise funds, as the good old at 28182.09 points on Thursday. Co Ltd and Winton Invest­ ward to developing our busi­ tor, regardless of rising trade tion of China.

Daily Stock Market Performance GainersGainers and andLosers Losers International Stock Markets

Daily YTD Daily Daily Daily YTD % Chg Index Close % Chg % Chg GAINERS Close % Chg LOSERS Close % Chg Close % Chg –10% 0% +10% Shanghai Stock Exchange Composite Index 2733.88 –0.9 –17.3 Shanghai Stock Exchange Hang Seng Index 28,182.09 –0.2 3600 ShanghaiGreencortInvst 4.04 10.08 Guangzhou Yuetai Group 3.11 –10.12 Hang Seng China Ent Index 10,608.06 –1.0 Fujian Start Group Co 6.89 10.06 Xining Special Steel 4.65 –10.06 TAIEX Taiwan Stock Index 10,611.81 –1.0 3300 China United Travel Co 5.05 10.02 Shanghai Hongda Mining 4.21 –10.04 Nikkei 225 21,546.99 –0.8 Nanjing Securities Co 10.44 10.01 Yinchuan Xinhua Comm 18.41 –10.02 Sensex 35,649.90 0.0 3000 Fuda Alloy Materials 60.72 10.00 Zhejiang Jiuzhou Pharm 8.64 –10.00 KOSPI 2,257.55 –0.3 Shanghai Tianyong Eng 33.00 10.00 ZhengpingRod&BrdgCnstr 10.17 –10.00 S&P/ASX 200 6,215.52 0.5 2700 Shandong Hiking Intl 6.95 9.97 ShanghaSmthAdhsvNwMtrl 23.32 –10.00 New Zealand 50 Gross Index 9,062.85 0.4 NthrnUnitedPblshng&Mda 5.91 8.64 NingxiaXinriHnglStlWre 14.86 –9.99 Straits Times Index STI 3,251.44 0.2 Shanghai Highly Group 11.43 5.35 Guangzhou Jiacheng Log 25.04 –9.99 Bangkok SET Index 1,606.56 –1.4 Bursa Malaysia KLCI Index 1,690.65 0.1 Shenzhen Stock Exchange Component Index 8862.18 –1.9 –19.7 Yunnan Jinggu Forestry 24.72 5.01 Qingdao Topscomm Comm 19.55 –9.99 VN-Index 899.40 –1.7 11,800 Shenzhen Stock Exchange Dow Jones 24,174.82 –0.5 CSGSmartScienc&Tchnlgy 19.30 5.46 AnhuiShngynEnvrnmntPrt 5.46 –10.05 10,800 BeijngOrntlYhngWtrprfT 15.13 3.00 XingyuanEnvironmentTch 13.11 –10.02 Jinzhou Cihang Group 3.71 2.49 Asymchem Labs Tianjin 76.83 –10.00 Commodities

9800 Taiji Computer Corp 29.43 2.40 ShenzhnJwPhtvltcLghtng 8.68 –9.96 Daily YTD % Chg CangzhouMingzhuPlastic 5.49 2.23 Shenzhen Tat Fook Tech 10.44 –9.92 Close % Chg –25% 0% +25% 8800 ShenzhenYUTOPackgngTch 53.16 2.23 GuangdongLYIntllgntMfg 4.56 –9.70 Brent Crude Oil (USD/bbl.) 77.83 –0.5 Midea Group Co Ltd 46.05 2.08 TaihaiManoirNclrEqpmnt 13.58 –9.47 Gold (USD/t oz.) 1253.50 1.0 Digital China Info Svc 12.34 2.07 Shaanxi J&R Optimum En 2.44 –8.96 Silver (USD/t oz.) 16.04 1.3 Oceanwide Holdings Co 4.75 1.93 Shenzhen Yan Tian Port 5.53 –8.90 Copper (USD/lb.) 2.92 –0.9 Shanghai Shenzhen CSI 300 Index 3342.44 –0.6 –17.1 Aluminum (USD/MT) 2118.00 0.6 ZhejiangWanfengAutoWhl 8.60 1.78 XinjiangGoldwindSc&Tch 11.10 –8.87 4400 Corn (USD/bu.) 3.52 1.4 Hang Seng Wheat (USD/bu.) 4.91 2.2 4000 CK Hutchison Holdings 83.80 2.51 Bank of China Ltd 3.68 –4.66 Soybeans (USD/bu.) 8.64 –0.6 CK Infrastructure 61.30 2.25 Ind & Comm Bk of China 5.53 –3.99 Coffee (USD/lb.) 1.12 0.2 3600 Country Garden 12.98 2.04 CNOOC Ltd 12.56 –2.48 Sugar #11 (USD/lb.) 0.12 1.0 Want Want China 6.82 1.79 CITIC Ltd 10.66 –2.02 Palm Oil (MYR/MT) 2284.00 –0.6 3200 AAC Technologies 105.50 1.54 PetroChina Co Ltd 5.69 –1.56 Cross Currency Rates ETFS Shanghai B-Share Stock Price Index 286.82 –0.9 –16.1 Daily % USD EUR CNY HKD GBP KRW BRL RUB JPY INR CAD 365 EQUITY ETFs Ticker Close Change USD 1.169 0.151 0.127 1.323 0.001 0.256 0.016 0.009 0.015 0.761 China 50 510050 2.39 0.04 345 China AMC CSI 300 Index 510330 3.65 –0.87 EUR 0.856 0.129 0.109 1.132 0.001 0.219 0.014 0.008 0.012 0.651 China CSI 500 510500 5.28 –2.65 325 CNY 6.637 7.758 0.846 8.781 0.006 1.696 0.105 0.060 0.096 5.049 China SME 159902 2.94 –2.55 305 HKD 7.848 9.172 1.182 10.382 0.007 2.005 0.124 0.071 0.114 5.970 China Universal CSI Consumer Staples Index 159928 2.13 –0.75 GBP 0.756 0.883 0.114 0.096 0.001 0.193 0.012 0.007 0.011 0.575 E Fund ChiNext Price Index 159915 1.45 –2.29 285 E Fund CSI 300 510310 1.43 –0.63 KRW 1118.440 1306.910 168.571 142.526 1480.860 286.037 17.699 10.116 16.247 851.490 E Fund CSI 300 Financials ex Banks Index 512070 1.59 –0.94 BRL 3.914 4.562 0.590 0.499 5.178 0.003 0.062 0.035 0.057 2.977 E Fund Hang Seng China Enterprises Index 510900 1.11 0.09 Shenzhen B-Share Stock Price Index 1044.52 –0.8 –10.2 RUB 63.248 73.904 9.529 8.059 83.672 0.057 16.162 0.572 0.923 48.112 E FUND SZSE100 INDEX FUND 159901 4.02 –1.42 1250 Fortune SGAM Xianjin Tianyi Money Market 511990 100.03 –0.03 JPY 110.610 129.270 16.665 14.095 146.329 0.099 28.262 1.749 1.607 84.150 Guangfa CSI 500 510510 1.40 –2.64 1175 INR 68.843 80.457 10.373 8.773 91.081 0.062 17.593 1.089 0.622 52.374 Guotai Shanghai Stock Exchange 180 Financial Index 510230 5.17 0.16 CAD 1.315 1.536 0.198 0.167 1.739 0.001 0.336 0.021 0.012 0.019 Harvest CSI 300 Index 159919 3.67 –0.60 1100 Huatai-Pinebridge CSI 300 510300 3.37 –0.82 Shanghai SSE180 510180 2.93 –0.24 Data provided by 1025 SSE Pledge Urban Investment Bond 511220 91.14 0.60 J A S O N D J F M A M J Yinhua Traded Money Market Fund 511880 102.38 0.07