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E Fund Management

E Fund Management is a Chinese asset management company founded in 2001. It is considered the largest asset management company in China.[3][4]

History

The company was established on 17 April 2001.[2] The initial shareholders were GF Securities, Guangdong Yuecai Trust, Guangdong Securities (liquidated in 2005[5]), Chongqing International Trust, Tianjin Trust and Northern International Trust.[6]

In 2004, the Midea Group acquired the company's shares from Tianjin Trust and Northern International Trust[6] and in 2005, increased its ownership to 25% after acquiring Guangdong Securities' stake.[7] In 2007, the Midea group transferred its entire stake in the company to the Infore Group.[8][9] He Jianfeng (son of Midea Group founder He Xiangjian) is considered to be the owner of the Infore Group.[8][9]

In 2008, the company established a Hong Kong Subsidiary named E Fund Management (Hong Kong) Co., Limited.[10]

The company's flagship mutual fund is the E Fund Blue Chip Selected Mixed Fund which had $8.3 billion in assets under management as of April 2023. In 2020 it has a return of 95% in 2020 which attracted significant subscriptions but in 2021 and 2022 it dropped 10% and 16% respectively.[11][12]

External links

References

  1. E Fund E Fund Management Company Limited, 21 March 2019, retrieved 18 May 2023^
  2. China's E Fund and Dutch APG Introduce Financial Future Planning Academy - PR Newswire APAC en.prnasia.com^
  3. Twinkle Zhou, senior reporter March 2022. US$425B Chinese asset manager seeks to launch Singapore unit Asian Private Banker, 31 March 2022, retrieved 29 October 2022^
  4. E Fund overtakes Tianhong as China's largest fund manager www.asiaasset.com, retrieved 17 September 2022^
  5. People's Daily Online -- Liquidation going on with Guangdong Securities Co. en.people.cn, retrieved 17 September 2022^
  6. 美的参股易方达 10 August 2021, retrieved 17 September 2022^
  7. 美的电器：成易方达并列最大股东-搜狐财经 business.sohu.com, retrieved 17 September 2022^
  8. 美的电器转让易方达基金股权玄机大揭秘 10 August 2021, retrieved 17 September 2022^
  9. Here comes the son Week in China, 9 June 2017, retrieved 17 September 2022^
  10. E Fund wants to help connect Chinese investors to global markets South China Morning Post, 22 December 2017, retrieved 18 September 2022^
  11. China’s biggest fund manager bets on Tencent, liquor distillers, dairy producer South China Morning Post, 31 March 2023, retrieved 2 October 2023^
  12. Summer Zhen. China mutual fund sales dry up amid market gloom Reuters, 9 June 2023, retrieved 2 October 2023^