Health-Check Time for China Funds
The recent implosion of global equity markets has had a rapid and pronounced effect on China's exuberant stock market. By the end of January, the benchmark Shanghai Composite Index was down nearly 30% from its all-time high of over 6100 last October. Despite this recent correction, however, the long-term prospects for China's equities market, and subsequently for its burgeoning asset management industry, still look quite promising. A recent study by McKinsey & Co. predicts China's asset management market will have more than $1 trillion in assets under management (AuM) between 2012 and 2015.
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