GUANGZHOU (Fund China) – Changsheng Fund in 2007 made its own decide the outcome of the choice – the internationalization of the layout. October approved QDII qualified, indicate that this pattern has entered a substantive stage. Changsheng Fund Management Company general manager Chen Lihua complacent: “QDII is Changsheng towards qualification of the internationalization an important step.”

Now, Changsheng Fund are anxiously looking forward to the end of this year launch its own QDII products.

A sound investment for the characteristics of Changsheng Fund, the explosive growth in the A-share market has been trying hard to sound and performance in the balance between master and seek breakthrough. It is in this context, the international strategy was Changsheng has been put on an unprecedented height. And to Director Wu Da international business represented by the four international investment background of the fund managers joined, let Changsheng international strategy under the important fall projects – QDII fast into orbit.

Changsheng strategic shift

In 2007, Changsheng the introduction of international strategic investment partners – Singapore DBS Asset Management Corporation. In Changsheng view, this is not only optimize the company’s shareholding structure, and effectively raise the company’s level of investment research.

Changsheng in a Singapore DBS Bank (DBS) China A-shares outstanding fund investment advisers, and obtained QDII qualifications, its international distribution clearly visible.

In fact, the layout of China’s Changsheng Fund stems from the company’s rapid changes are taking place in the careful observation and in-depth analysis.

Changsheng find that the Chinese fund companies have been three major changes have taken place: from the traditional public offering funds to both public offering funds and private funds changes; from only focus the domestic market to both domestic and international changes; from purely a cash buy-hold investment strategy to both diversify changes. Based on this knowledge, Changsheng senior development strategy will be done adaptive adjustments, the international initiative adaptability of this adjustment is a direct result of the upcoming QDII products is infiltrated Changsheng thinking – healthy.

Products traditional, selected industries.

QDII fund launched, allowing victory impermissible failure. As DBS Asset Management holders Changsheng Fund companies 33% stake in the joint venture Changsheng QDII copy mature product seems logical, this has been DBS services of Wu Da categorically denied.

He said DBS strong products in the Asia-Pacific theme, the theme of Singapore, Hong Kong, Southeast Asia theme fund and the Changsheng QDII is a global diversified investment philosophy with the traditional products, its location is selected global fund industry, the global market through the allocation of key economic sectors from the full sharing of the developed emerging market countries with the dual economic growth and consumer demand, and not a single prominent regional growth.

Wu Da said, the data show that the true sense of the global market with very low correlation between the domestic stock market, the correlation coefficient basically positive and negative 10 percent between even negative in some years, therefore, the global investment risk of scattered single market will be very useful.

The object of specific industries to choose investment ideas, Wu Da believed that global growth this round of the process, the different countries in different economic development cycle will benefit from different sectors, such as industrialization, urbanization promote emerging market resources, infrastructure, the rapid development of raw material industries, which brought investment opportunities. While high-tech industries in developed countries, developing countries will be because of the technology transfer needs to be further developed, bringing another kind of investment opportunities. Global excess liquidity has brought global asset inflation, emerging markets have a number of middle-class luxury consumption, especially in consumer demand, leading to consumer industries will benefit.

The domestic fund managers agreed value of the financial sector, Wu Da cautious attitude, mainly taking into account the impact of subordinated bonds of the United States, could lead to the re-pricing in this industry.

The international business sector investment and research to achieve strength of A-shares roughly the same level.

Changsheng Fund senior and foreign shareholders, including investment and the construction of the international research team balked at investing. The QDII products will soon be born with three fund managers and a fund manager assistant. In the hearts of Wu Da, a researcher at the other carrying a small bills: one person of 10 levels industry research, needs at least six persons, global macroeconomic, exchange rate study, at least one person … such a big talent gap, the fund research of the human resources profile in China, was difficult to realize. “We still hope that based on the local community, their own culture.” Wu Da explained.

Wu Da in the work plan, the international business sector investment and research to achieve strength of A-shares roughly the same level.

Similarly contains different international investment risks, such as the international geopolitical risks, the international market risks, interest rate risk, credit risk, exchange rate risk, investment risk and the management of international investment returns for QDII fund’s priority tasks. “We are confident that the QDII products made evergreen.” Wu Da said. He hopes that, in a longer period of time (for example, more than five years), this product benefits and risks to meet the needs of domestic investors.

Copyright Fund China 2009.

You Might Like: