安永：中国资产管理行业报告2023（中译版）（26页）.pdf

1、China Asset Management Report 20231|China Asset Management Report 20232China Asset Management Report 2023|Welcome to the EY organizations new China asset management report.For those who follow Chinas asset management industry closely,2022 left a mixed taste at best:a sluggish stock market dampened t

2、he demand,but the introduction of a new private pension scheme gave hope for renewed growth.Pandemic made business logistically challenging,but travel restrictions and social distancing rules were lifted at year-end.Industry size remained flat,but structural changes continued.In this report,we ident

3、ify 10 key trends and give our take on how each of them will shape the future of the industry.3|China Asset Management Report 20233|China Asset Management Report 20234China Asset Management Report 2023|Total assets under management(AUM)of Chinas asset management industry dropped slightly from CNY68

4、trillion in 2021 to CNY67 trillion upon 2022 year-end,ending a winning streak that started in 2018.Considering that the major index,Shanghai composite,was down by 15%,industry did well with asset retention.More than anything,the decrease was attributed to the continued regulatory clamp down on separ

5、ate account business,which has been halved since the introduction of the New Asset Management Rules in 2018.Both the private funds and the mutual funds,the dual engine of the industry,managed to bring in new assets on the back of a strong 2021 and were both helped by relatively high fixed income exp

6、osure.Overall,the industry managed to stay on its long-term growth trajectory,finishing 2022 with a five-year compounded annualized growth rate of 7%.We expect the long-term macro factors,including the deepening of the capital market,growing investor awareness and appreciation for professional asset