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Investment Management

Our investment management business includes asset management, direct investment and fund management. We commenced our asset management business in 2003 and our AUM has achieved stable growth. Direct investment and fund management are our emerging businesses which we started in 2012 and 2013, respectively. 


Asset management

Our asset management products and services primarily include:

Collective asset management scheme: we manage client assets for a group of clients while keeping client assets in designated accounts pursuant to applicable laws and in accordance with collective asset management contracts; and

Targeted asset management scheme: with each scheme, we manage assets for a single client pursuant to the specific terms of the bilateral contract between the client and us through a designated account.


Direct investment

We operate our direct investment business through our wholly owned subsidiary, ZDKY Venture Capital, which we established in February 2012. ZDKY Venture Capital primarily makes equity investments in private companies that we believe have potential for capital appreciation. In January 2014, the CSRC legislated to permit securities firms in China to make direct debt investments through their direct investment subsidiaries. We intend to actively develop this new business in 2014.

 

Fund management

We operate our fund management business through our subsidiary, Ashmore-CCSC Fund Management, which we established in January 2013. We hold 51.0% of the equity interest in Ashmore-CCSC Fund Management, with the remaining 49.0% of equity interest held by Ashmore Investment Management Ltd., a well-known investment management company based in London dedicated to the emerging markets. Ashmore-CCSC Fund Management specializes in fund formation and distribution as well as management of separately managed accounts. In May 2013, Ashmore-CCSC Fund Management distributed two fund products under separately managed accounts. We primarily earn management and performance fees in our fund management business.