Chinese asset management firms' pension funds ranking in Q2 unveiled

Source: Xinhua| 2019-10-04 14:40:23|Editor: huaxia
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BEIJING, Oct. 4 (Xinhua) -- A ranking of the pension fund volume of China's asset management companies in the second quarter of 2019 was released with a joint venture between China's biggest commercial lender and Credit Suisse topping the list, according to the Asset Management Association of China (AMAC).

ICBC Credit Suisse Asset Management Co., Ltd., an asset management joint venture between the Industrial and Commercial Bank of China (ICBC) and Credit Suisse, came in first with the largest pension fund pool in Q2 of this year, said the AMAC, an industry body supervised by China's securities regulator.

Harvest Fund Management Co., Ltd. and E Fund Management Co., Ltd. filled out the rest of the top three slots.

Pension funds calculated in the AMAC ranking include social security funds, basic pension funds, corporate pension and occupational pension funds.

By the end of 2018, pension funds run by China's asset management companies had total assets of 1.72 trillion yuan (about 243.2 billion U.S. dollars), and the figure is still growing, AMAC data showed.

China had 126 asset management companies at the end of August, including 44 joint ventures and 82 domestic firms, according to the AMAC.