News

JP Morgan tops Broadridge China chart

China growthThere has been a change of leadership at the top of the China Power Ranking chart compiled by investor services firm, Broadridge, with JP Morgan edging out UBS Asset Management. The ranking is part of Broadridge’s biannual China Navigator report and charts global asset managers in China based on assets under management (AUM) growth and brand recognition. JP Morgan more than doubled its offshore China AuM in the second half of 2020 and also reinforced its brand by faring best in Broadridge’s retail investor survey and professional fund buyers’ interviews. The recent acquisition of China Merchant’s Bank helped JP Morgan see off rivals UBS AM and BlackRock who finished second and third respectively and also enjoyed 50% and 90% growth in AUM respectively. European asset managers also fared well in the ranking. Allianz Global Investors rose four places to 6th after doubling its AuM growth in the second half of 2020 while Amundi also improved its standing thanks to its wealth management joint venture with Bank of China, HuiHua Wealth Management, which has raised about US$1.2 billion in assets since December 2020.
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