德勤：机会在即：外资投资管理机构如何赢取中国市场（英文版）（19页）.pdf

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1、Opportunity knocks How global asset managers can win in China 1 Opportunity knocks | How global asset managers can win in China Executive Summary Chinas asset management market is expected to be the second biggest in the world, and is projected to reach about USD10 trillion by 2025. It stands out as

2、 the only at-scale asset management market with double-digit organic growth. The COVID-19 crisis may further extend the growth gap between China and western markets, making China an even more important strategic arena for global asset managers. Foreign managers have long been interested in the China

3、 opportunity, but until recently have had limited options for accessing this market, either via a minority joint venture (JV) with a local Fund Management Company (FMC), or a Wholly Foreign Owned Entity Private Fund Manager (WFOE PFM). Both of these options held significant constraintsminority FMC JVs offered limited control over the company, while WFOE PFMs excluded access to the promising retail