A century of footprint, a new starting point, relying on a global investment platform, Morgan Asset Management helps investors achieve global asset allocation

Since entering China in 1921, JPMorgan Chase has been present in China for more than a century.

A hundred years later, the world has undergone tremendous changes, and JPMorgan Chase has never changed its original intention, unswervingly investing in China and being long on China.

In April 2023, JPMorgan Asset Management completed 100% control of China Investment Morgan Fund and completed the change of the company’s legal name and brand name. This is another milestone in the opening up of China’s asset management industry and fully reflects JPMorgan Asset Management’s confidence in the Chinese market and strategic commitment to China’s development.

From the investment in the Morgan fund to Morgan Asset Management, Morgan Asset Management has changed only the name, and what remains unchanged is the commitment to invest in China, rooted in China.

Dan Watkins, chief executive of JPMorgan Asset Management Asia Pacific, said: "Drawing on JPMorgan’s 102-year history in China and JPMorgan Asset Management’s local operational expertise over the past 19 years, we look forward to continuing to help domestic investors refine their investment solutions and diversify globally, while helping global investors seize the tremendous opportunities in the Chinese market."

100% holding, continue to write new articles in China

As a world-renowned asset management company, JPMorgan Asset Management has a history of 150 years. As of the end of 2022, this "century-old store" has an asset management scale of more than 2.40 trillion US dollars, of which liquidity management assets reached 761 billion US dollars, making it the second largest institutional money manager in the world. Equity investment and fixed income investment both exceeded 600 billion US dollars, and multi-asset investment and alternative investment also exceeded 200 billion US dollars.

At the same time, Morgan Asset Management also has more than 600 investment strategies around the world, covering all kinds of assets around the world, and the investment team is spread all over the world. More than 1,000 investment experts cover more than 70 markets around the world, and the company visits more than 2,500 times every year. By applying global investment wisdom and market-forward professional insights, Morgan Asset Management is committed to providing investors with diversified and international asset management services.

At the same time, as a leading global asset management institution, Morgan Asset Management has long been committed to bringing more competitive and irreplaceable services to China, providing local customers with more world-class products and services that meet global standards.

JPMorgan Chase’s entry into China can be traced back to 102 years ago. Its predecessor was Equitable Eastern’s first branch in Shanghai. In 2004, JPMorgan Asset Management began to enter the Chinese public offering market and established China Investment Morgan Fund in a joint venture with Shanghai Trust.

After 19 years of development, China Investment Morgan Fund has become one of the impressive leaders of joint venture fund companies. Entering 2023, Morgan Asset Management’s pace in China is further.

In April 2023, with the completion of the industrial and commercial change of China Investment Morgan Fund, its legal name was changed to Morgan Fund Management (China) Co., Ltd., which is 100% controlled by JPMorgan Asset Management Holdings Inc. In the same month, Morgan Fund Management (China) Co., Ltd. announced that the company’s brand name was officially changed to "J.P. Morgan Asset Management" in order to better empower the development of China business through a global operating model.

At this point, Morgan Asset Management, a global asset management giant with a management scale of 2.40 trillion US dollars, has not only continued the century-old legend of Morgan in China, but this milestone change also heralds a new starting point for its business in China.

19 years of deep accumulation, continuously optimized investment and research system

A new starting point, a new beginning, but also has a solid foundation. Morgan Asset Management has been deeply involved in China’s public offering market for 19 years, with a cumulative asset management scale of nearly 160 billion yuan, serving more than 64 million customers, and a cumulative profit of more than 54 billion yuan for public funds. It has formed a rich and diverse product line.

Wind data shows that as of the end of 2022, Morgan Asset Management currently manages a total of 84 public funds, forming a product series covering currency, bond, hybrid, stock, index, FOF, ETF and other asset classes, risk and return characteristics.

While continuously enriching the product system, Morgan Asset Management has also emerged a group of investment experts with rich management experience and outstanding performance in various fields.

The leader in active equity and fixed income is Du Meng, who has over 20 years of experience in the industry. He joined Morgan Asset Management as early as 2007 and has served as an industry expert, assistant fund manager, fund manager, assistant general manager, director of domestic equity investment department and senior fund manager.

In the multi-asset and international business sector, it is led by Enxue Hai, who has 27 years of experience in pension investment and research. He has managed Fidelity Global Multi-Asset and US Equity FOF funds.

There is also Chen Yuanming, Director of Absolute Return, with 13 years of experience in the securities industry and specializing in large-scale asset allocation; Meng Chenbo, Head of Liquidity Management, with 27 years of experience in banking and fund industry, and over 13 years of experience in money fund management; Hu Di, Director of Index and Quantitative Investment, with 15 years of experience at home and abroad, has worked for New York Merrill Lynch Securities, Standard & Poor’s and China International Capital Corporation.

In the investment research team of Morgan Asset Management, there is also a deep feeling that the overall atmosphere is very good. Fund managers and researchers have very smooth communication channels and full trust between each other. This is not only due to the willingness of team members to share and help each other, but also due to the well-functioning investment research platform of Morgan Asset Management.

According to the author’s further understanding, Morgan Asset Management’s investment research system has been constantly evolving in practice. In 2016, the company comprehensively upgraded the research system and established a transparent, traceable, and integrated research platform. By 2018, the company had reorganized the investment team and truly guided the investment process.

Now that the "Guidelines" have been deeply rooted in the hearts of the company, every fund manager is very clear about which investment process the products he manages belong to, and what the principle of this investment process expects him to achieve. Morgan Asset Management hopes to ensure that all aspects of investment research have high-quality output in an institutionalized way, and that valuable information can be shared fully, timely and quickly.

When it comes to the investment model, Du Meng, director of China investment at Morgan Asset Management, summed it up in one sentence: "Our investment model is actually to follow the changes of the times, to find what should be done in those five years or ten years, to find better companies that can really grow, and grow with it."

Integrating China and the West, empowering the global perspective

Morgan Asset Management has always left a deep impression on investors and its global vision. During the period of investing in Morgan Fund, the industry consensus was that the fund company that could integrate local experience and global resources better was one of the fund companies that had to be mentioned.

And this is actually where JPMorgan Asset Management has a differentiated advantage. On the one hand, JPMorgan Asset Management has a unified global investment platform, and investment research experts cover more than 70 markets around the world. Relying on JPMorgan Asset Management’s global investment and research resources, JPMorgan Asset Management continues JPMorgan Asset Management’s global consistent standards in China. Not only does the investment decision-making operation process show professionalism, science and standardization, but also access to research information with breadth and depth on a global scale.

On the other hand, learning from JPMorgan Asset Management’s high-standard risk management system, JPMorgan Asset Management has deeply rooted professional and standardized risk control in all stages of the investment process. It is reported that JPMorgan Asset Management has established a completely independent risk management and risk control team in China, closely monitoring the investment process, including credit risk, compliance risk, liquidity risk and other risks. With the support of a century of risk management experience, JPMorgan Asset Management’s business in China can be better stable and long-term.

"As we communicate more closely with JPMorgan Asset Management’s investment and research teams around the world, we also benefit greatly from the help of a global perspective. At present, Chinese companies are increasingly going abroad and integrating into the world. It turned out that we studied the market and focused on the domestic market. Now that more and more domestic industries are joining the global industrial chain, we need to look at the global demand changes and industrial landscape. JPMorgan Asset Management’s global resources allow us to have a more diverse perspective and understand industrial changes and corporate values more thoroughly."

Entering 2023, the public fund industry has gone through 25 years, and the continuous improvement and development of the public fund industry has also attracted the attention of many international asset managers. At the same time, the ever-opening capital markets also provide international asset managers with better opportunities to participate in Chinese market investment. George Gatch, global CEO of Morgan Asset Management, said during a recent visit to China, "The scale of Chinese public funds has grown from zero to nearly 27 trillion yuan in 25 years, and the growth rate is very amazing, reflecting the strong customer demand behind it. With the continuous growth of China’s economy and the deepening of the internationalization process of capital markets, we will rely on Morgan Asset Management’s rich global resources and long-term local deep cultivation to continue to create value for the majority of investors." Wen/An An An