Jason Cheng

Today, Mr. Ian Zhu, Managing Partner of NIO Capital, spoke at the 37th Annual AVCJ Private Equity Forum 2024 in Hong Kong. During the thematic VC panel "Portfolio Management: Venture Style," Mr. Zhu shared his insights on how GPs can enhance value creation amidst evolving market trends. He emphasized that the current landscape is markedly different from past experiences, characterized by increased dynamism and challenges. While the recent downturn has led to widespread pessimism, he encouraged attendees to remember that cycles do change, and the key lesson is to focus on the fundamentals.

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MPF Ratings released Q1 2024 MPF Asset Class Fund Flow Summary by highlighting that US equities received over $9bn of MPF’s net inflows in Q1 2024, by far the largest quarterly MPF net inflows into US equities ever recorded, and a concerning trend which Mr Chung attributes to a confluence of new fund launches, disappointing local equity results and MPF members trying to capitalize on the strong momentum of the US market. Find out more here: https://lnkd.in/eRJmq4ne #mpfratings #MPFRIntelligence #MPFRConsistentPerformers #MPFFastMover #MarketInsights #MPFMarketShare #MPFFundFlows #MPFNetReturns #MPFIndustry #pensionschemes #assetmanagement #investmentmanagement #mpf #investment #empf

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Today’s China Top Five: 💡 𝗙𝗲𝗲 𝗖𝘂𝘁𝘀 | 𝗘𝗧𝗙𝘀 Several major fund managers, including China Asset Management Co., Ltd., E Fund Management Co.,LTD. and Huatai-PineBridge Fund Management Co., Ltd. (Formerly AIG-Huatai) announced reductions in management and custodian fees for large-cap ETFs. These changes apply to ETFs tracking key indices like CSI 300, SSE 50, CSI 500, and others, with over RMB1.3tr in AUM. 💡 𝗛𝗶𝗴𝗵-𝗹𝗲𝘃𝗲𝗹 𝗠𝗲𝗲𝘁𝗶𝗻𝗴 | 𝗖𝗶𝘁𝗮𝗱𝗲𝗹 𝗦𝗲𝗰𝘂𝗿𝗶𝘁𝗶𝗲𝘀 Citadel Securities CEO Zhao Peng met with Shanghai Party Secretary Chen Jining. The two discussed the prospects of Shanghai as an international financial hub and Citadel Securities reiterated its long-term investment plan to bring its expertise to the onshore market. 💡 𝗟𝗶𝘃𝗲𝘀𝘁𝗿𝗲𝗮𝗺 𝗣𝗲𝗻𝗮𝗹𝘁𝗶𝗲𝘀 | 𝗕𝗿𝗼𝗸𝗲𝗿𝘀 & 𝗜𝗙𝗔𝘀  Regulatory actions against violations in financial live streaming are intensifying, targeting unauthorized stock recommendations and compliance lapses. Recent enforcement includes penalties for Zhongtian Securities and Tonghuashun’s subsidiary for improper practices in live-streamed stock recommendations. 💡 𝗙𝘂𝗻𝗱 𝗣𝗲𝗿𝗳𝗼𝗿𝗺𝗮𝗻𝗰𝗲 | 𝗘𝗻𝗵𝗮𝗻𝗰𝗲𝗱 𝗜𝗻𝗱𝗲𝘅 Many enhanced index funds have underperformed their benchmarks recently due to rapid market shifts and high volatility. From September 24 to November 18, only 53 of 536 enhanced index funds surpassed their benchmarks. However, over longer periods more than two thirds have achieved positive excess returns. 💡 𝗠𝘂𝘁𝘂𝗮𝗹 𝗙𝘂𝗻𝗱𝘀 | 𝗔𝗰𝘁𝗶𝘃𝗲 𝘃𝘀. 𝗣𝗮𝘀𝘀𝗶𝘃𝗲 With ETFs bringing in more than RMB1tr this year, the active vs. passive debate is raging onshore. Passive equity assets have surpassed active for the first time, but active funds retain the better long-term annualized returns.   #chinatopfive #zbenadvisors #assetmanagement #mutualfunds #ETFs #china #financialnews

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💡Hong Kong Green Finance Association (HKGFA) warmly welcomes the Chief Executive’s 2024 Policy Address 📣 The policy address articulates a bold vision for advancing Hong Kong’s position as a leading #green finance and green technology hub. HKGFA is pleased that several of our member-driven recommendations have been incorporated into the Policy Address. We stand ready to assist the HKSAR government in implementing the initiatives, support the implementation of #disclosure standards and the Hong Kong #taxonomy, promote innovation in #transition finance, and help facilitating regional dialogues on key topics such as connectivity of voluntary #carbon markets. 👉 Read more about the Policy Address and thoughts from Dr. Ma Jun (Hong Kong Green Finance Association (HKGFA) Chairman & President) https://lnkd.in/gAPRZxvs #greenfinance #sustainablefinance #sudtainability #greentech #VCM

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【ESG News】Global Trends Biweekly Newsletter Issue 12 (2024.7.15-2024.7.26) Hong Kong China ESG trends: HKSAR Government Launches HK$25 Billion Green Bond Offering Source: HKMA (https://lnkd.in/gcUcUH73) International ESG trends: ESMA Recommends Sustainability Disclosure Requirements for All Financial Products Source: ESG Today (https://lnkd.in/dMGTwFDR) UK Government Confirms 2% Sustainable Aviation Fuel Requirement Beginning 2025 Source: ESG Today (https://lnkd.in/dYKcE3Ct) Mainland China ESG trends: China plans low-carbon upgrades for coal power sector Source: Reuters (https://lnkd.in/gbGFmnpR.) Five departments issued the "Electrolytic Aluminum Industry Energy Saving and Carbon Reduction Special Action Plan" Source：Securities Times (https://lnkd.in/gd-pkubH) China sets green targets for data centers Source：Xinhua (https://lnkd.in/gQ2AgnZm) For our full newsletter, please visit: https://lnkd.in/gmXcd9va #ESG #ESGinvesting #sustainableinvesting #sustainablefinance #sustainability #green #ESGbonds

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"South East Asian Private Credit - Trends, Opportunities, Future Outlook and Investment Strategies in Distressed Situations and Beyond", by David Chew (Partner, DHC Capital). Check out this new article published on the Singapore Global Restructuring Initiative (SGRI) Blog! #restructuring #insolvency #distressed #privatecredit #finance #investments #Asia https://lnkd.in/dPaCvJgr

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During a recent interview with CNBC at the Berlin Global Dialogue, Patrick Zhong, Founding Managing Partner of M31 Capital, shared his thoughts on the current state of global markets. He stressed that we need to see the big picture of the world and giving patience and constructive approach in reviving the global economy. Below are his main points: 🏷 Reviving the global market requires patience and a constructive approach The COVID-19 pandemic has had a lasting impact on global markets. Travel and communication restrictions have led to misunderstandings and market disruptions becoming commonplace. The market seems frozen and it will take time to recover. In the long run, it will be important to adopt a patient and constructive approach to revive the global economy. 🏷 Global Investors have become more positive about Chinese market Many investors are already making direct or indirect investments in response to China's recent stimulus package. For example, luxury companies in Europe have significant exposure to the Chinese market. Investors are not just interested in Chinese securities but are also keenly looking at equities that are closely intertwined with China's economic pulse, its consumers, and the trends shaping consumption. 🏷 Beyond the noise, see the big picture As an investor, it's important to look beyond the noise of individual events and focus on broader trends. People are paying too much attention to specific events and losing sight of the bigger trends. Over the last 30 to 40 years of global globalization, significant expertise has developed in different regions of the world. The innovation, particularly in supply chain management, is remarkable. It's important to be aware of where these innovations are originating from. 🏷 The era has been marked by significant innovation The post-COVID world is complex, and people are talking to each other less. We have seen a lot of surprises in the last 2-3 years, such as the innovation of AI and the development of the EV market. Innovation arrives when we least expect it, and it has marked this era significantly. It's challenging to plan for, but it's this very unpredictability that makes it so exciting. In large economies like the US and China, about 25% of the economies change every 10 years. Similar to a large language model, when you have enough data and robust activities, you tend to have very interesting surprises emerging from this. It's a phenomenon that keeps us on our toes and drives us to explore new frontiers.

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Kairous Capital Doubles Down on Vietnam with New Investments & a Local Office 📢 In a recent interview with DealStreetAsia, Kairous Capital’s Managing Partner Joseph Lee, CFA shared why we are strategically deepening our investments in Vietnam, pointing to key opportunities in this dynamic market. This month alone, we invested in two innovative Vietnamese companies: - Coolmate: Joined a $6 million funding round for this standout men’s apparel e-commerce brand. - PangoCDP: Led a $1.5 million round for this B2B platform that enhances business connections via social chat apps. "Despite a challenging economic environment, resilient companies in Vietnam are gaining market shares as weaker competitors exit. Kairous sees this as a prime time to invest, with attractive valuations, better margins and motivated founders." Joseph Lee, Managing Partner of Kairous Capital. To further strengthen its presence, Kairous will open an office in Vietnam next year, ensuring closer support for its expanding portfolio. These investments are part of Kairous Capital’s newly launched $30 million Southeast Asia-focused fund, which is on track to grow to $50 million by next year’s final close. The firm is directing 80% of this fund toward key markets like Vietnam, Singapore, Malaysia, and Thailand. With a focus on Series A investments and follow-up funding for cross-border growth, Kairous is poised to accelerate its impact in the region. Read more from the interview here: https://lnkd.in/gqzwPDzY #KairousCapital #DealStreetAsia #Vietnam #Coolmate #PangoCDP #D2C #B2B #VentureCapital #CrossBorder #InvestingInVietnam

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At the welcome dinner of the Global Prosperity Summit 2024 in Hong Kong on May 13th, Matrixport Co-Founder Mr. Jihan Wu and Hong Kong Chief Executive Mr. John Lee delved into recent advancements in the global digital asset industry. They also discussed the significance of Hong Kong's regulatory framework in shaping global digital asset governance. Matrixport affirmed its commitment to bolstering investment in Hong Kong, leveraging the city's talent and financial ecosystem. The Chief Executive expressed encouragement for the Matrixport’s advancement of the digital asset industry in Hong Kong, attracting and nurturing #talents. He emphasized that Hong Kong will continue to build a more robust and complete digital asset ecosystem and attract more creative and competitive digital asset firms to develop and grow in Hong Kong. #hongkong #digitalasset

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To bridge finance gap for achieving carbon neutrality, local governments in #China should consider leveraging the #green #bond tool to invest in #sustainable infrastructure and build #climate resilience more systematically—our senior analyst Liu Wenjie spoke with Ryan Li Leyan at FinanceAsia. https://lnkd.in/eVtrbvyC

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The Federal Reserve is expected to cut rates, leading to an influx of global capital into Southeast Asian markets as investors seek new growth opportunities. Data indicates that stock markets in Southeast Asia have reached new highs since mid-August. On August 27, Nomura Securities recommended increasing holdings in Southeast Asian stocks in its latest Asia Market Strategy report. The firm upgraded its rating for the Malaysian and Indonesian stock markets to "overweight". Amid the anticipation of interest rate cuts, prompting capital inflows into the region. Ethan, HsinChieh Wang, Chief Investment Strategist at Standard Chartered China Wealth Management, noted that the depreciation of Southeast Asian currencies against the U.S. dollar has slowed since the end of June. Currencies like the Malaysian ringgit, Thai baht, and Indonesian rupiah have outperformed broader markets recently. Wang believes that there is still potential for depreciation in Southeast Asian currencies, but further unwinding may help to mitigate these adjustments. Looking ahead, he expects that if the Federal Reserve starts cutting interest rates in September, Southeast Asian currencies may appreciate, with this trend possibly continuing until 2025. https://lnkd.in/gXibef6e

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At Legend Capital君联资本, we believe ESG factors are crucial for long-term value creation and risk management. We are the FIRST Chinese market-oriented institution to integrate ESG factors with Asian Infrastructure Investment Bank requirements in our LC Health Care Fund II as early as in 2020, focusing on China's healthcare industry. Leveraging our industrial investment strengths, we considered ESG factors at every investment stage, integrating global standards. Our practices include identifying, assessing, and managing ESG risks and opportunities, and an external complaint mechanism for monitoring. Through continuous exploration and practical validation, Legend Capital now has established a comprehensive ESG management system and completed the localization of ESG. #LCESG #Sustainability #ESGPractice #Healthcare #LegendCapital2024ESGReport

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[ON.CC | Value Partners: Gold price approaches $2,470, setting an all-time high (ATH); analyst suggests further upside potential] Rising expectations of a September Fed rate cut, coupled with the recent attack on U.S. presidential candidate Donald Trump, have led to New York gold futures and spot gold reaching new historical highs. Alex Chiu, Senior Strategist of ETF Business at Value Partners, maintains a positive outlook for gold in the latter half of 2024, citing ongoing geopolitical uncertainties and increasing central bank demand as the main drivers of gold prices. Read the full article now (Chinese only): https://lnkd.in/guVX4VUk Follow us on LinkedIn to access our latest news and investment insights. 🔎 Facebook: bit.ly/3mjfFLB  🔎 YouTube: bit.ly/valuepartners4236 🔎 Subscribe to our e-newsletter: bit.ly/3AGDDI6 #valuepartners #mutualfunds #investments #assetmanagement #goldetf #gold Investment involves risk. The above information is for reference only. It does not constitute an offer or an invitation to subscribe any securities, or a recommendation in relation to any securities. 

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