Mazars publishes the report: Asset Management Industry Analysis Report - Privately Offered Fund
Mazars has released the "Asset Management Industry Analysis Report - Private Equity Funds". This report explores various facets of China's asset management industry, including an overview of the industry and an in-depth analysis of the private equity fund business. It provides a holistic view of the industry's historical development and future trends, specifically within the private equity fund sector. Additionally, it offers practical advice and strategies for navigating these areas.
Chinese financial institutions embarked on asset management ventures in the late 1990s. Despite their late entry, they swiftly gained momentum. The journey involved stages of initial exploration, accelerated growth, transformation, and high-quality development. Over three decades, a competitive landscape has evolved, comprising banks, insurance firms, securities corporations, public and private funds, trust companies and futures companies.
The asset management industry has experienced consistent growth since the "New Asset Management Regulations" were implemented in 2018. It is projected that by the end of 2023, the industry could surpass 120 trillion yuan. This includes public funds at 27.60 trillion yuan, bank wealth management products at 26.80 trillion yuan, and private equity fund products at 20.58 trillion yuan. Additionally, non-public asset management products are estimated to reach around 19 trillion yuan, trust plans are projected at approximately 17 trillion yuan, and insurance company asset management products are anticipated to be around 9 trillion yuan.
In 2023, there was a significant increase in the deregistration of private equity fund managers, a decrease in new fund filings, and a reduction in fundraising scale. The growth rate of existing funds slowed, and product performance varied considerably. Issues in "fundraising, investment, management, and exit" emerged. However, we perceive these changes as positive. This is because the introduction of new private equity regulations is transforming the industry, promoting a market environment that is fair, transparent, and encourages high-quality development. As we transition into 2024, we expect that differentiated regulatory policies will improve investor protection and strengthen the role of private equity funds in fostering economic growth and innovation.
Mazars Financial Services consists of a integrated team offering high-quality services in audit, accounting & outsourcing, and tax services to clients in the asset management, banking, insurance, and real estate sectors. With a deep understanding of the unique challenges and attributes of each sector, we offer tailored and insightful solutions. If you have any related business needs, please feel free to contact Mazars Financial Services.
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