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China Fund News reporter Ruo Hui

Another foreign public fund company has launched a new round of capital increase.

The National Enterprise Credit Information Publicity System shows that recently, BlackRock Fund increased its registered capital from 1 billion yuan to 1.25 billion yuan, an increase of 25%. This is the fourth capital increase since the establishment of BlackRock Fund.

Since the beginning of this year, in addition to BlackRock, Fidelity, Neuberger Berman and AllianceBernstein have also increased their capital. In the eyes of industry insiders, the capital increase of foreign public funds is a microcosm of their accelerated "beachhead" in the Chinese market, and it is also using "real money" to express their long-term optimism about the Chinese market.

BlackRock Fund's fourth capital increase

The National Enterprise Credit Information Publicity System shows that BlackRock recently increased its registered capital from 1 billion yuan to 1.25 billion yuan, a 25% increase. This is the fourth capital increase since the establishment of BlackRock. After four capital increases, BlackRock's registered capital has increased from 300 million yuan at the beginning of its establishment to 1.25 billion yuan.

Public information shows that BlackRock Fund was established on September 10, 2020. It is the first public fund management company in China that is wholly owned by foreign capital and is 100% controlled by BlackRock Financial Management, Inc.

Wind data shows that as of the end of the second quarter of this year, BlackRock Fund has issued and established a total of 8 funds, including BlackRock China New Vision and BlackRock Hong Kong Stock Connect Vision, with a non-cash scale of 4.037 billion yuan under management, of which the scale of mixed funds is 3.602 billion yuan, accounting for 89.22%; the scale of bond funds is 435 million yuan, accounting for 10.78%.

From the perspective of future product layout, BlackRock's China Bond 0-3 Year Policy Financial Bond Index Fund is currently being issued, BlackRock's Heyue Interest Rate Bond Fund has been approved and is awaiting issuance, and BlackRock's Anzai 60-Day Holding Period Bond Fund and other products are awaiting approval.

Many foreign fund companies increase their investment in the Chinese market

In addition to BlackRock Fund, many foreign fund companies have also increased their capital this year.

In February this year, Fidelity Fund increased its registered capital from $130 million to $160 million, an increase of 23.08%. In March, Robeco increased its registered capital from 300 million yuan to 420 million yuan, an increase of 40%. In May, AllianceBernstein increased its registered capital from 200 million yuan to 300 million yuan, an increase of 50%.

Foreign-funded fund companies are also very active in product layout. According to Wind data, as of July 25, among the 9 wholly foreign-owned public fund companies that have been established, Allianz Fund Management reported two funds in July, Allianz China Select Hybrid and Allianz Anyu Bond, which also means that the first public fund product under Allianz Fund Management is getting closer. The other 8 established foreign-funded fund companies have issued a total of 15 new funds this year, covering index funds, primary bond funds, equity-oriented hybrid funds, debt-oriented hybrid funds, ordinary stocks, medium- and long-term pure bonds, etc., with a total fundraising scale of more than 25 billion yuan.

Many industry insiders said that the increase in registered capital and the launch of new products both reflect foreign capital's optimism about the Chinese market.

Fan Hua, head of BlackRock China, said in an interview with the media that BlackRock Group's commitment to the Chinese market is long-term and firm. After three years of exploration, the two asset management subsidiaries managed by BlackRock Group China have achieved certain results.

She said that BlackRock has been seeking opportunities to increase its presence in the Chinese market. The two companies have increased their capital several times since their establishment, and will make relevant arrangements in the future based on the needs of business and product issuance.

Qian Feng, general manager of AllianceBernstein, also told the media that as a global economic power, the size of China's capital market cannot be ignored. Establishing a wholly foreign-owned mutual fund company in China is currently the largest new business of AllianceBernstein in the global market and a major strategic layout.

Editor: Xiaomo

Audit: Wooden Fish

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