This year’s top 10 stories included a peek into AustralianSuper’s international equities build out in London, AMP’s move to slash employee benefits, and plenty of hard-hitting analysis of the issues that matter in institutional investment. But the real story is how readers helped shape all of that coverage.
Orbis’ Stuart Place is riding from Melbourne to the Moon and Back to fund a treatment for the “monster of a disease” that his youngest son was born with. The investment industry is rallying behind him.
Gunns joins China Universal international business
Christopher Gunns, a former marketing head at Neuberger & Berman and ING Investment Management in Hong Kong as well as Australia, has been appointed to a new role at the Chinese-owned China Universal Asset Management in Shanghai.
The role involves building the international business in the QFII and QDII space for China Universal, where most firms have struggled to fill their quotas in the past year or so.
Gunns had just completed a contract role with ING Investment Management in Beijing prior to his new appointment. ING is in the process of winding down its investment management businesses throughout Asia, having failed to sell the global asset management business over 2010-12. Several other European financial institutions, such as Deutsche Bank, have similarly failed to sell their global asset management arms during the same period.
China Universal is a top-10 mainland asset management company, formed in 2005, with more than 300 staff, including 50 investment professionals, and about $US10 billion under management.
Shareholders include Orient Securities, Wenhui-Xinmin United Press Group and China Eastern Airline Group.
The QFII system, involving licensing and quotas, was set up in 2002 to open the Shanghai listed market up to foreign investors. Foreign investors, and fund managers, can either apply for their own quotas, which is constantly being made easier, or go through an intermediary. QDII was launched in 2006 to allow Chinese institutions to invest offshore. The scheme was widened to include individual investors a couple of years later.
China Universal has a full range of both active and passive strategies and funds.
