Harvest Fund Management

Harvest Fund Management, commonly known as Harvest Fund or HFM and called 嘉实基金 in Chinese, is a Chinese asset-management company headquartered in Beijing. It was established in March 1999 after receiving approval from the China Securities Regulatory Commission, placing it among the earlier generation of Chinese fund-management companies created as the country's investment-fund industry developed. The firm invests primarily in Chinese public equity and fixed-income markets and provides asset-management and retirement-management services to a range of institutional and individual investors. Its business scope has included publicly offered mutual funds, segregated-account and institutional mandates, pension and retirement management, and investment solutions for insurance companies, enterprises, and pension or profit-sharing plans. This combination gives Harvest exposure to both retail fund distribution and institutional asset management. The company is privately owned rather than a publicly listed operating company, and the Wikipedia account identifies China Credit Trust Co., Ltd., Lixin Investment Co., Ltd., and Deutsche Bank AG among its shareholders. Harvest's development has also included an international expansion dimension. Harvest Global Investments established a wholly owned subsidiary in London, Harvest Global Investments (UK) Ltd, making London an overseas base for a Chinese-parent fund company. In 2012, Harvest became the first China-based asset manager described in the reference material to establish a joint venture with a United States partner, creating Harvest USA. Harvest USA was intended to distribute Harvest mutual funds in North America; its first cited U.S. product was Harvest Funds Intermediate Bond, launched in February 2013. The firm's cross-border capabilities were also visible in the exchange-traded-fund market. In November 2013, Deutsche Asset & Wealth Management launched the db X-trackers Harvest CSI 300 China A-Shares Fund, known by the New York Stock Exchange ticker ASHR. The product used Harvest's quota under China's then-applicable Renminbi Qualified Foreign Institutional Investor framework to give overseas investors access to mainland China A-shares. This arrangement connected Harvest's domestic investment capacity with an internationally distributed listed fund. Harvest has additionally been associated with BHR Partners, an investment platform established in 2013. The reference material describes Harvest and Bohai Industrial Investment Fund Management Co. as each holding 30 percent, with the remaining interest held through two U.S. firms. BHR's investments included Sinopec Marketing Corporation, Henniges Automotive, China General Nuclear, 3Bio Inc., Didi Taxi, and a minority interest in the Tenke Fungurume Mining project in the Democratic Republic of the Congo. These activities belong to an affiliated private-investment platform rather than representing the full scope of Harvest's core mutual-fund business. Overall, Harvest is positioned as a diversified Chinese investment manager with domestic public-market capabilities, institutional and retirement mandates, and selected international distribution and investment activities. Publicly available reference material does not provide a sufficiently current figure for assets under management, a complete current executive roster, or a definitive statement of present-day ownership beyond the shareholders identified above.

Harvest Fund Management was founded in March 1999 following approval by the China Securities Regulatory Commission. Its creation occurred during the formative period of China's regulated fund-management industry, when domestic investment managers were being established to manage publicly offered funds and institutional capital. The company is headquartered in Beijing and is described as a privately owned investment manager. The firm's core activities have centered on investment management in China's public equity and fixed-income markets. Its client and product scope has included pension and retirement plans, profit-sharing plans, insurance companies, enterprises, and public-fund investors. In addition to public mutual funds, Harvest has provided segregated-account management and other institutional mandates. The business therefore spans both pooled investment products and customized institutional arrangements. The reference material identifies China Credit Trust Co., Ltd., Lixin Investment Co., Ltd., and Deutsche Bank AG among Harvest's shareholders. It does not establish a complete current ownership table or identify a single founding individual. Harvest is not described as a listed company, and no ticker is provided for the management company itself. Harvest later pursued international expansion through affiliated entities and distribution partnerships. Harvest Global Investments established Harvest Global Investments (UK) Ltd in London as a wholly owned subsidiary, making London an overseas base for the Chinese-parent investment group. In 2012, Harvest formed Harvest USA with a U.S. partner. The joint venture was intended to distribute Harvest mutual funds in North America, and its first cited American product, Harvest Funds Intermediate Bond, was launched on February 27, 2013. Another important cross-border development involved the exchange-traded-fund market. In November 2013, Deutsche Asset & Wealth Management launched the db X-trackers Harvest CSI 300 China A-Shares Fund, traded under the symbol ASHR on the New York Stock Exchange. The fund used Harvest's RQFII quota to provide international investors with access to mainland Chinese A-shares. This arrangement demonstrated how Harvest's domestic investment capacity could be incorporated into products distributed by an international financial institution. Harvest also participated in the creation of BHR Partners in 2013. BHR was structured as a private-investment firm rather than as a conventional public mutual-fund product. The reference material attributes 30 percent stakes to Harvest and Bohai Industrial Investment Fund Management Co., with the balance held through Rosemont Seneca and Thornton Group. BHR subsequently made investments connected with Sinopec Marketing Corporation, Henniges Automotive, China General Nuclear, 3Bio Inc., Didi Taxi, and Tenke Fungurume Mining. These transactions expanded the range of activities associated with the Harvest name beyond public-market fund management, although they should be distinguished from Harvest's primary asset-management operations. The supplied sources do not provide a reliable current account of Harvest's assets under management, product-level performance, executive leadership, or recent corporate developments. Its documented profile is consequently that of a Beijing-based, privately owned Chinese investment manager with public-fund, institutional, retirement, and selected international capabilities.

1. 2016BHR acquires Tenke Fungurume Mining interest

   BHR Partners acquired a minority interest in the Tenke Fungurume Mining project in the Democratic Republic of the Congo.

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2. 2013First cited U.S. fund product launched

   Harvest USA launched Harvest Funds Intermediate Bond in the United States on February 27, 2013.

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3. 2013ASHR ETF launched

   Deutsche Asset & Wealth Management launched the db X-trackers Harvest CSI 300 China A-Shares Fund on the NYSE using Harvest's RQFII quota.

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4. 2013BHR Partners established

   Harvest participated in the formation of BHR Partners, an affiliated private-investment platform.

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5. 2012Harvest USA joint venture formed

   Harvest created a U.S. joint venture intended to distribute Harvest mutual funds in North America.

   Source
6. 1999Company established after CSRC approval

   Harvest Fund Management was founded in March 1999 following approval from the China Securities Regulatory Commission.

   Source

A diversified Chinese asset manager combining public-fund investment, institutional mandates, retirement management, and selected cross-border distribution capabilities.

• Public mutual fundsPublic funds

  Harvest's public-fund business covers pooled investment vehicles for investors seeking exposure to Chinese equities, fixed income, and other permitted asset classes. The supplied material identifies public funds as a central part of the company's asset-management activities but does not provide a complete current fund catalogue.

• Harvest Funds Intermediate BondFixed-income mutual fund2013

  Harvest Funds Intermediate Bond was identified as Harvest USA's first product in the United States. It was launched on February 27, 2013, as part of the North American distribution initiative. The supplied reference does not provide current assets, performance, fees, or present availability.

• db X-trackers Harvest CSI 300 China A-Shares FundExchange-traded fund2013

  This exchange-traded fund, known by the NYSE ticker ASHR, was launched by Deutsche Asset & Wealth Management in November 2013. It was designed to give overseas investors access to mainland Chinese A-shares and used Harvest's RQFII quota as part of its investment structure.

• Harvest Growth Hybrid FundHybrid mutual fund

  The existing dossier identifies Harvest Growth Hybrid Fund as a flagship offering. The supplied sources do not provide enough detail to verify its launch date, strategy, assets, performance, or current status.

• Harvest CSI 300 ETFExchange-traded fund

  The existing dossier identifies a Harvest CSI 300 ETF as a flagship offering. The available reference material does not provide a sufficiently detailed product record, including launch date, listing venue, or current status.

• 2013Support international access to China A-shares through ASHRProduct launch

  International investors faced regulatory and market-access constraints when seeking exposure to mainland Chinese equities.

  What changed. Harvest provided its RQFII quota for the db X-trackers Harvest CSI 300 China A-Shares Fund launched by Deutsche Asset & Wealth Management.

  Aftermath. The NYSE-listed ETF offered an externally distributed route into mainland Chinese A-shares.

  Source
• 2013Participate in BHR PartnersStrategy

  Harvest expanded its associated investment activities beyond public funds and conventional asset-management mandates.

  What changed. Harvest participated in establishing BHR Partners, a private-investment platform with Chinese and U.S. shareholders.

  Aftermath. BHR pursued investments in sectors including energy, automotive, technology, transport, and mining.

  Source
• 2012Expand into North American fund distributionStrategy

  Harvest sought to extend the international reach of its investment products beyond its domestic Chinese business.

  What changed. It formed Harvest USA with a U.S. partner and assigned the venture a North American distribution role.

  Aftermath. Harvest USA launched Harvest Funds Intermediate Bond in 2013, providing a documented first product for the U.S. initiative.

  Source

• 2016BHR acquires minority interest in Tenke Fungurume Mining

  BHR Partners acquired a minority interest in the Tenke Fungurume Mining project in the Democratic Republic of the Congo. The reference material reports a cash purchase price of approximately US$1.14 billion.

  M&A
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• 2015BHR invests in Henniges Automotive

  BHR Partners invested in Henniges Automotive with AVIC Auto as strategic partner, broadening the affiliated platform's activity into automotive components.

  M&A
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• 2014BHR invests in Sinopec Marketing Corporation

  BHR Partners invested in the segregation and capitalization of Sinopec Group's non-oil business into Sinopec Marketing Corporation.

  M&A
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• 2013Harvest Funds Intermediate Bond launches in the United States

  Harvest USA introduced Harvest Funds Intermediate Bond as its first cited product in the United States, extending the firm's fund-distribution presence into North America.

  Product launch
  Source
• 2013db X-trackers Harvest CSI 300 China A-Shares Fund launches on the NYSE

  Deutsche Asset & Wealth Management launched the ASHR exchange-traded fund, using Harvest's RQFII quota to provide overseas investors with access to mainland Chinese A-shares.

  Product launchProduct generation
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• 2013BHR Partners is established with Harvest participation

  BHR Partners was established as a private-investment platform in which the reference material identifies Harvest and Bohai Industrial Investment Fund Management Co. as significant shareholders alongside two U.S. firms.

  M&A
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• 2012Harvest establishes Harvest USA joint venture for North American distribution

  Harvest Fund Management formed Harvest USA with a U.S. partner, becoming the first China-based asset manager identified in the reference material to create such a joint venture. Harvest USA was designated as the exclusive North American distributor of Harvest mutual funds.

  M&A
  Source

1. Harvest Fund Management
2. Harvest Fund Management official website