A Research On The Development Of Asset Management Business For Specific Clients In Fund Companies

After14years’ development, public offering fund of Chinese fund companiesarrives and maintains at the level of2trillion RMB. However, how to extend theasset management business for specific clients and create the new point of growthwithout the increase of the fund scale becomes a new problem for the fundcompanies.We hope to find the advantages of the fund companies in the asset managementbusiness for specific clients over elasticity of products, wide ranges of investment andincentives in taxes after comparisons with the current business situations in assetmanagement of banks, insurance companies, security companies and institutions ofprivate asset management listed in this thesis.After the research and analysis about the high-value Chinese clients, weaffirmed the great potentiality of the market, and the essentiality to seize the clients’great need of increasing the value of their assets steadily.Based on these foundations, we offer some advices on the products, includingthe fixed-income business, the refinancing business, hedging business and the blueocean business, after reaching the conclusion that the absolute return should be theinvestment goal in the asset management business for specific clients through thedemonstrations over the relative gains being as the investment goal of the public offering funds.We further confirmed the great potentiality of the development of assetmanagement business for specific clients in fund companies, that it will hold anexceedingly important position in asset management industry in the future, throughthe comparisons and analysis with global hedge funds.