JP Morgan AM Retains Top "China Power Ranking" Spot

Tom Burroughes

25 April 2024

New York-listed fintech firm in China have secured positions in the top-20 list. They have generally enhanced their China Power Ranking and/or scores against global peers, benefiting particularly from growing local operational strength via more product launches and faster localisation.”

“While maintaining its No. 2 rank, BlackRock has experienced a decline in overall score due to brand strength challenges linked to underperforming product returns and declining fund assets. However, progress in its bank wealth management joint venture has led to strategic leadership changes, potentially expediting localisation efforts to better serve Chinese markets,” it said.

The report said that UBS Asset Management and Invesco, both lacking wholly-owned FMCs in the top-10 list, have “faced challenges in maintaining rankings and scores, primarily due to consolidation and muted local activities, respectively.”

“These change dynamics of ranks and scores have underscored the increasingly leading role of FMCs in the broader Chinese asset and wealth management industry, as seven of the top 10 have already established their 100 per cent-owned FMCs and most have launched multiple local funds,” Yoon Ng, Broadridge’s principal, APAC Asset Management Advisory, said.