E Fund Management

E Fund Management (Chinese: 易方达基金管理) is a Chinese asset management company founded in 2001. It is considered the largest asset management company in China.[3][4]

E Fund Management Co., Ltd.
Native name
易方达基金管理有限公司
TypePrivate
IndustryFinancial services
FoundedApril 17, 2001 (2001-04-17)
Headquarters
Guangzhou, China
AUMUS$396 billion (December 2022)[1]
OwnersGF Securities (22.65%)
Guangdong Yuecai Trust (22.65%)
Infore Group (22.65%)
Guangdong Rising Holdings Group (15.1%)
Guangzhou Guangyong State Owned Assets Management (7.55%)
SubsidiariesE Fund Management (Hong Kong) Co., Limited
Websitewww.efunds.com.cn
Footnotes / references
[2][3]

History

The company was established in April 17, 2001.[2] The initial shareholders were GF Securities, Guangdong Yuecai Trust, Guangdong Securities (liquidated in 2005[5]), Chongqing International Trust, Tianjin Trust and Northern International Trust. [6]

In 2004, the Midea Group acquired the company's shares from Tianjin Trust and Northern International Trust[6] and in 2005, increased its ownership to 25% after acquiring Guangdong Securities' stake.[7] In 2007, the Midea group transferred its entire stake in the company to the Infore Group.[8][9] He Jianfeng (son of Midea Group founder He Xiangjian) is considered to be the owner of the Infore Group.[8][9]

In 2008, the company established a Hong Kong Subsidiary named E Fund Management (Hong Kong) Co., Limited. [10]

The company's flagship mutual fund is the E Fund Blue Chip Selected Mixed Fund which had $8.3 billion in assets under management as of April 2023. In 2020 it soared 95% in 2020 which attracted significant subscriptions but in 2021 and 2022 it dropped 10% and 16% respectively. [11][12]

References
  1. "E Fund". E Fund Management Company Limited. 21 March 2019.
  2. "China's E Fund and Dutch APG Introduce Financial Future Planning Academy - PR Newswire APAC". en.prnasia.com.
  3. Zhou, Twinkle; March 2022, senior reporter (31 March 2022). "US$425B Chinese asset manager seeks to launch Singapore unit". Asian Private Banker.
  4. "E Fund overtakes Tianhong as China's largest fund manager | Asia Asset Management". www.asiaasset.com. Retrieved 2022-09-17.
  5. "People's Daily Online -- Liquidation going on with Guangdong Securities Co". en.people.cn. Retrieved 2022-09-17.
  6. "美的参股易方达". 2021-08-10. Archived from the original on 2021-08-10. Retrieved 2022-09-17.
  7. "美的电器：成易方达并列最大股东-搜狐财经". business.sohu.com. Retrieved 2022-09-17.
  8. "美的电器转让易方达基金股权玄机大揭秘". 2021-08-10. Archived from the original on 2021-08-10. Retrieved 2022-09-17.
  9. "Here comes the son |". Week In China. 2017-06-09. Retrieved 2022-09-17.
  10. "E Fund wants to help connect Chinese investors to global markets". South China Morning Post. 2017-12-22. Retrieved 2022-09-18.
  11. "China's biggest fund manager bets on Tencent, liquor distillers, dairy producer". South China Morning Post. 2023-03-31. Retrieved 2023-10-02.
  12. Zhen, Summer; Shen, Samuel (2023-06-09). "China mutual fund sales dry up amid market gloom". Reuters. Retrieved 2023-10-02.
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