Another shot has been made, and the brokerage company has accelerated the layout of asset management subsidiaries.
Recently, Cinda ** submitted the materials for the approval of the establishment of professional subsidiaries to the regulator, and the regulator has received it. It is reported that the professional subsidiary is the asset management subsidiary of Cinda**. The tentative name is Cinda **Asset Management*** investment amount of RMB 300 million.
The establishment of the company's asset management subsidiary is in line with regulatory policies and industry development trends, which is conducive to improving business operation efficiency, accelerating business transformation, focusing on active management, improving customer wealth management service capabilities, and enhancing market competitiveness. Cinda ** said.
Brokerage China reporters noticed that the application and establishment of asset management subsidiaries of securities companies have been significantly accelerated. Since the beginning of this year, Great Wall ** Asset Management, Huaan ** Asset Management, Guolian ** Asset Management, Guosen Asset Management, etc. have been approved one after another. In addition, the asset management subsidiaries of securities companies such as China Securities Construction Investment**, CICC, and Huachuang** are also queuing up to apply for establishment.
Cinda** established an asset management subsidiary.
There are certain time clues for the establishment of Cinda** asset management subsidiary. On October 19 this year, the board of directors of Cinda ** passed the proposal to establish an asset management subsidiary. On November 7, the extraordinary general meeting of shareholders passed the proposal. and then submit materials to the Securities Regulatory Commission this time.
It is reported that the establishment of an asset management subsidiary by Cinda ** is to conform to the development trend of the industry, grasp business opportunities, and accelerate the development of asset management business. The business scope of the asset management subsidiary includes public offering business, specifically: engaging in **asset management business, public offering**investment** management business and other businesses permitted by the regulatory authorities (the specific business scope is subject to the approval of the regulatory authorities and registration authorities). Among them, the qualification of public offering **investment** management business will be applied for separately in accordance with regulatory requirements after the establishment of the asset management subsidiary.
Cinda** said that the establishment of the company's asset management subsidiary is in line with regulatory policies and industry development trends, which is conducive to improving business operation efficiency, accelerating business transformation, focusing on active management, improving customer wealth management service capabilities, and enhancing market competitiveness. After the establishment of the asset management subsidiary, it will strive to build a comprehensive asset management platform, provide investors with professional financial services, and improve the overall profitability of the company.
It is estimated that after the establishment of the asset management subsidiary, the company's various risk control indicators are still at a reasonable and stable level, and can continue to meet the requirements of the regulators. In the future, the company will adhere to a prudent business strategy and take effective risk control measures to ensure the sustainable and healthy development of the company and its asset management subsidiaries," said Cinda**.
Brokerage China reporters noticed that recently, at the third quarter performance briefing of Cinda**, an investor asked: "What is the future development plan of Cinda** asset management subsidiary?".”
Cinda ** replied that the asset management subsidiary of Cinda ** is in the process of preparation. After the establishment of the asset management subsidiary, it will take serving the real economy and meeting the wealth management needs of the people as its own responsibility, adhere to the general tone of "seeking progress while maintaining stability", strictly abide by regulatory requirements, actively respond to the opportunities and challenges brought about by policy reforms, strengthen risk control and compliance management, focus on core values such as "customer first", combine its own business characteristics, integrate internal and external resource advantages, take "active management" as the guide, and "boutique asset management" as the development strategy, and provide professional and differentiated financial products and services.
Securities firms are vying to deploy asset management subsidiaries.
Not only Xinda**, just a few days ago, Huaxin Co., Ltd. issued an announcement on foreign investment, and its subsidiary Huaxin ** plans to invest 1 billion yuan to set up a wholly-owned subsidiary, Huaxin ** (Shanghai) Asset Management***
Brokerage China reporters noticed that in recent years, the application and establishment of brokerage asset management companies have accelerated significantly. Since the beginning of this year, including Great Wall ** Asset Management, Huaan ** Asset Management, Guolian ** Asset Management, Guosen Asset Management, etc., have been approved one after another, last year, Guojin ** Asset Management, Shenwan Hongyuan ** Asset Management, Wanlian ** Asset Management, CITIC ** Asset Management were approved, and in 2021, Shanxi ** Asset Management was approved to be established. After the approval of Guosen Asset Management on November 10 this year, the number of asset management subsidiaries of securities companies has reached 29, and the asset management subsidiaries of securities companies such as China Securities Construction Investment**, CICC, and Huachuang ** are also queuing up to apply for establishment.
In terms of policy, in May 2022, the China Securities Regulatory Commission issued the Measures for the Supervision and Administration of Public Offering Investment Managers, which implemented the policy of "one participation, one control and one license", which clarified that securities firms can develop public offering business by applying for the establishment of asset management subsidiaries, public offering companies and participating in the holding of public offering companies. On the policy side, the relevant license restrictions have also been relaxed, accelerating the process of public offering of securities companies' asset management.
After the establishment of asset management subsidiaries, a number of securities companies plan to further obtain public offering licenses in the next step. In July and November this year, the China Securities Regulatory Commission (CSRC) approved the qualifications of China Merchants Asset Management and Industrial Securities Asset Management for public offering and investment managementGF Asset Management, CES Asset Management, Essence Asset Management, and Guojin ** Asset Management are also queuing up to wait for regulatory approval of the qualification of public offering ** business.
At present, there are a total of 14 securities firms and securities asset management companies that have obtained public offering qualifications, including 4 securities companies (Shanxi**, Guodu**, Beijing Gaohua**, Bank of China**) and 10 securities asset management subsidiaries (Orient Securities Asset Management, Zheshang Asset Management, Bohai Huijin, Caitong Asset Management, Changjiang Asset Management, Huatai ** Asset Management, Zhongtai Asset Management, Guotai Junan Asset Management, China Merchants Asset Management, and Industrial Securities Asset Management).
In addition, a number of asset management subsidiaries of securities companies have recently opened. On October 19, the opening ceremony of Shenwan Hongyuan Asset Management subsidiary was held, announcing that Shenwan Hongyuan's asset management business was extended to the subsidiary. On October 26, Guolian** announced that its asset management subsidiary, Guolian Asset Management, landed in Qingdao SCO Demonstration Zone. On November 16, the opening ceremony of CITIC ** Asset Management was held in Lize Business District, Fengtai District, Beijing.
Analysts told reporters that the establishment of asset management subsidiaries by securities companies is in line with regulatory policy guidance, industry development trends and strengthening the strategic positioning of wealth management, which is conducive to improving business operation efficiency and accelerating business transformation. For securities firms, the establishment of asset management subsidiaries and then obtaining the qualifications for the issuance of public and private offerings can improve customer acquisition capabilities and income**, and form synergies with brokerage investment research and brokerage business to provide products with different risk levels for different types of customers, do a good job in wealth management business, and open up a broader space for business development.
Editor-in-charge: Tactical Heng.
Proofreading: Liao Shengchao.