Best Fund Provider China A-Share Equity
J.P. Morgan Asset Management
Best Fund Provider – China A-Share Equity
Howard Wang
portfolio manager, managing director, head of Greater China equities, Emerging Markets and Asia Pacific (EMAP) Equities, J.P. Morgan Asset Management
“Our dedicated Greater China investment team consists of 19 investment professionals with an average of 15 years of industry experience. The core of the approach of this A-share strategy is longer-term in nature and focuses on higher growth, quality, and return businesses. Our research-driven investment process is primarily driven by bottom-up stock selection, while also taking into account policy. Over a cycle, we believe that active investing focused on stock selection offers a significant opportunity to add value to client portfolios.
The primary objective of our philosophy and process is to deliver strong relative performance in a disciplined manner over the longer term, which comes from investing at the right time and price in well-managed growth companies where the interests of management and minority shareholders are aligned. There are many such opportunities in the A-share market for managers with the right footprint and resources.”
Winners rationale
The Shanghai stock index rounded out a challenging year as the world’s worst performer amid US-China trade tensions, China’s ongoing rebalancing towards what is a ‘new normal’ of subdued growth, and knock-on effects from troubled emerging markets in Europe and Latin America. Yet, best-in-breed solutions providers that have deep experience operating in the A-shares space were able to weather the storm, and none more so than J.P. Morgan Asset Management.
Indeed, the fund house was the first to launch a retail QFII fund in 2006 — the JPMorgan China Pioneer A-Share Fund — which invests directly in the China A-share market, and as at year-end 2018, the US$800 million fund was beating the benchmark to deliver five-year and since-launch returns of 27.8% and 240.1%, respectively.
Riding on this success, J.P. Morgan Asset Management rolled out its JPMorgan China A-Share Opportunities Fund in 2014, with a SICAV vehicle subsequently launched to address the needs of private banking clients seeking A-share exposure. The RMB-denominated fund has posted since-launch returns of 37.5% as at December 2018.
Being among the first fund houses to set up a mainland joint venture — the China International Fund Management Co. Ltd — as early as 2004, the firm proved yet again that it intends to continue sharpening its competitive edge with its long-term on-the-ground presence in China.
The turbines behind the firm’s long-term outperformance include a private banking-dedicated sales team with six client advisors in Asia and a client-centric fiduciary culture. The firm has fused client servicing with events, bespoke content, and actionable insights to demonstrate how its portfolio solutions can help maximise growth, manage volatility, or generate income through different strategies.
Boasting US$1.7 trillion of assets under management globally and 1,700 professionals based across eight strategic locations in the region, J.P. Morgan Asset Management has been selected as Asian Private Banker’s Best Fund Provider – China A-share Equity for 2019.
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