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Fullgoal Fund Management

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Fullgoal Fund Management Co., Ltd.
Native name
富国基金管理有限公司
Company typePrivate
IndustryFinancial services
FoundedApril 13, 1999; 25 years ago (1999-04-13)
Headquarters
Shanghai, China
Key people
Chen Ge (CEO)
Li Xiaowei (CIO)
AUMUS$123.7 billion (December 2022)[1]
Owners
[2]
SubsidiariesFullgoal Asset Management (HK) Limited
Websitewww.fullgoal.com.cn

Fullgoal Fund Management (Fullgoal; Chinese: 富国基金管理; pinyin: Fùguó jījīn guǎnlǐ) is a Chinese asset management company founded in 1999. It is headquartered in Shanghai, China.

History

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Fullgoal was established in 1999 as one of the earliest asset management companies in China.[3][4][5][6]

In February 2001, Fullgoal and the Bank of Montreal (BMO) signed a cooperation agreement to work together to develop the asset management business in China. In May 2003, it was announced that BMO received approval from the China Securities Regulatory Commission to acquire a minority interest in Fullgoal. At the time, BMO was the first foreign company to acquire an interest in an established fund management company in China.[3][4][5][6][7] However, as of 2018, no BMO asset management products have been distributed in China.[8]

In Fullgoal's 2012 corporate statement, it stated it wanted to create a bridge between mainland China and international capital markets. In that year, Fullgoal established a subsidiary in Hong Kong named Fullgoal Asset Management (HK) Limited which would focus on Chinese securities listed outside China. However it did not offer any retail fund products until July 2019 where it received approval from the Securities and Futures Commission to offer them to retail investors.[5][6][9]

Fullgoal is one of the earliest companies in China to use quantitative analysis as part of its investment process. In December 2009, it launched the first enhanced index fund in China and as of May 2019, has beaten the Chinese stock market by 56% since inception. By using a data-driven approach with computers, it became the largest quantitative manager in China. Clients that Fullgoal manage money for include the Abu Dhabi Investment Authority.[5][10][11]

References

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  1. ^ "Wealth Management". Haitong Securities.
  2. ^ "Le chinois Fullgoal Asset Management se lance en Europe". Les Echos (in French). 8 December 2015.
  3. ^ a b "BMO buys share in Chinese fund firm". Investment Executive. 28 May 2003. Retrieved 7 October 2023.
  4. ^ a b DiBiasio, Jame (25 March 2003). "Bank of Montreal near Chinese Fullgoal JV | Asset Owners". AsianInvestor. Retrieved 7 October 2023.
  5. ^ a b c d Foster, Mike (2 August 2016). "Former Barclays quant thrives in China". Financial News London.
  6. ^ a b c Bright, Greg (5 March 2021). "Fullgoal joins the 3PD fold for Australasian distribution". Investor Strategy News. Retrieved 7 October 2023.
  7. ^ "Canadians buy stake in China fund". South China Morning Post. 2 June 2003. Retrieved 7 October 2023.
  8. ^ "BMO boosts ties with Chinese bank as country vows to open up sector". The Globe and Mail. 22 January 2018. Retrieved 7 October 2023.
  9. ^ Acosta, Francis Nikolai (18 July 2019). "Fullgoal opens to Hong Kong's retail market". Fund Selector Asia. Retrieved 7 October 2023.
  10. ^ "Teamwork seen as key to success for funds". South China Morning Post. 23 April 2013. Retrieved 7 October 2023.
  11. ^ "Quant 'Goddess' Says Global Fund Giants Can't Beat Her in China". Bloomberg.com. 6 May 2019. Retrieved 7 October 2023.
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