Fortis Haitong Raises RMB 2.1 Billion in its New Index Fund （Oct. 30. 2009）
Fortis Haitong’s first index fund, HFT CSI 100 Index Fund (LOF), was sucessfully launched on Oct 30th. It raised RMB 2.1 billion (about EUR 204 million), during the initial selling period ran from Sept 8th to Oct 23rd. CSI 100 Index, consists of the 100 largest stocks among CSI 300, aims to comprehesively reflect the price performance and company situation of 100 most influential companies listed in Shanghai or Shenzhen Stock Exchange. As the 11th mutual fund promoted by Fortis Haitong, this new index fund greatly helped the company to expand it business lines and to diversify its investment products.
Fitch Ratings affirmed Fortis Haitong at ‘M2+(chn)’ Rating （Sep. 30. 2009）
Fitch Ratings has affirmed Fortis Haitong Investment Management Co. Ltd’s (FHIM) National Asset Manager Rating (China) at ‘M2+(chn)’, which is assigned to the company’s Shanghai-based investment management activities. The rating reflects FHIM’s comparably long track record and experience in the Chinese asset management industry, the stability of the organisation and its controlled evolution over time. FHIM has demonstrated its capacity to withstand adverse capital market conditions, such as those experienced in China in 2008, characterised by high volatility and sharply declining equity markets. The strong recovery seen in the first half of 2009 led to a notable rise in assets under management (AuM). More importantly, sales in the non-retail business, namely the enterprise annuity schemes and advisory business, have seen notable increases. This has helped further to diversify the company’s book of business. The rating also recognises FHIM’s sound capital base, profit retention beyond regulatory requirements and the consistent profitability of the firm in recent years, which enables FHIM to pursue its long-term business objectives.
Fortis Haitong, Kokusai Sign Investment Advisory Agreement（Aug 03. 2009）
Fortis Haitong Investment Management Co., Ltd, China’s leading joint venture fund management company, has sucessfully signed investment advisory agreement with KoKusai Asset Management Co., Ltd. Kokusai Asset Management plans to launch a new China Fund on August 6, after its parent Mitsubishi UFJ Securities Co., Ltd obtained Qualified Foreign Institutional Investor license from the CSRC in December last year. The target size of the fund would be two hundred million US dollar, with 50 percent investing in A-shares and 50 percent in H-shares. Fortis Haitong will provide investment suggestions to Kokusai for this fund.
The latest agreement signed makes Fortis Haitong further extend its investment service for Japanese investors. In May, Fortis Haitong started to provide investment suggestions to Nikko Cordial Securities, a major brokerage firm in Japan, after the latter gathered approximately 500 million USD for its new fund. Since the end of March, Fortis Haitong has also taken the role of investment advisor for Nomura’s China A share fund.
Fortis Haitong Pays Div to QDII Investors for the Second Time
（Jun 30.2009）
Fortis Haitong has become the country’s first asset manager to pay dividends for the second time to investors of an overseas investment fund. The company announced on June 3rd that it would pay 2.5 yuan to fundholders who hold every 10 fund units of Fortis Haitong China Overseas Best Selection Fund. The fund, launched in June 2008 under the Qualified Domestic Institutional Investor (QDII) scheme, paid 0.2 yuan in cash dividend for 10 units each in April 2009. The fund has jumped more than 50% percent in its NAV this year.
Fortis Haitong Acts As Investment Advisor to Nikko Cordial’s A-share Fund（Jun 30.2009）
Fortis Haitong has started to provide investment suggestions to Nikko Cordial Securities, a major brokerage firm in Japan, after the latter gathered approximately 500 million USD for its new fund. The fund will mainly invest in A-shares traded in Shanghai and Shenzhen, and it may also invest in Chinese bonds. The fund will pursuit a full investment strategy limiting the cash position to maximum of 10% of the assets. Since the end of March, Fortis Haitong has also taken the role of investment advisor for Nomura’s China A share fund.
Fortis Haitong and Polaris Sign MOU to Expand Taiwan, HK Markets (May 15，2009）
Fortis Haitong and Polaris Securities (Hong Kong) have signed a memorandum of understanding (MoU) to expand Taiwan and Hong Kong markets. Polaris Securities (Hong Kong) plans to launch a Greater China Fund and will invite Fortis Haitong to take the role of investment advisor. Fortis
Haitong has become the first fund management company in mainland China cooperating with Taiwan securities company for cross-strait investments. Polaris Securities (Hong Kong) is affliated with Polaris Financial Group, one of the largest brokers in Taiwan.
Fortis Haitong Raises RMB 2.68 Billion in New Equity Fund （May 4, 2009)
Fortis Haitong’s fourth equity fund, HFT Leading Growth Equity Fund was sucessfully launched on May 4th. It raised RMB 2.68 billion (about EUR 299 million), during the initial selling period ran from March 30 to April 24. It is the seventh largest fund IPO in China this year, a great achievement considering the current market and better than initial expectations.
Fortis China fund venture pays div to QDII investors （Apr 7.2009）
SHANGHAI, April 7 (Reuters) - Fortis NV’s China fund venture has become the country’s first asset manager to pay dividends to investors of an overseas investment fund, as a rebound in global stock markets eliminated the fund’s losses.
The China Overseas Best Selection Fund, launched in June 2008 under the Qualified Domestic Institutional Investor (QDII) scheme, will pay 0.2 yuan in cash dividend for 10 units each, Fortis Haitong Investment Management Co said on its website on Tuesday.
The fund, which invests mainly in U.S. and Hong Kong-listed firms, had 1.116 yuan in net asset value (NAV) per unit as of April 2. Its NAV had been knocked below its face value of 1 yuan for most months since last September, when the global financial crisis worsened.
This is the first time a Chinese QDII fund will pay dividends after becoming profitable, since QDII was launched in 2006 to allow Chinese money to be invested abroad. Most QDII products have suffered badly from the turmoil in global capital markets, with some losing more than 70 percent at the worst time.
QDII funds, however, have benefited from a rebound in global stock markets this year. Fortis Haitong’s China Overseas fund has jumped 14 percent in NAV this year, fuelled by sharp rebounds in the Dow Jones industrial average <.DJI> and Hong Kong’s benchmark Hang Seng Index <.HSI>.
(US$1=6.832 Yuan)
Fortis Haitong wins two precious awards from Asia Asset Management (Jan 20, 2009)
We proudly announced that Fortis Haitong Investment Management Co. Ltd won two precious awards from the world famous Asia Asset Management, the “JV Firm of the Year” and “QDII Manager of the Year” of 2008 Best of the Best Awards. Asia Asset Management magazine is a monthly publication focused on the institutional fund markets in the Asia Pacific region. Widely read by finance professionals, Asia Asset Management has established an influential position within the Asia Pacific institutional market place.
Fortis Haitong’s two mutual funds win top industry awards (Jan 12, 2009)
On January 12, Forits Haitong’s two mutual funds wins two awards in the 6th Golden Bull Awards of China Fund Industry hosted by official China Securities Journal:
Fortis Haitong Money Market Fund wins “2008 Golden Bull Open-end Money Market Fund” award.
Fortis Haitong Best Selection Fund II wins 2008 Golden Bull Open-end Balanced Fund” award.
Fortis Haitong won 10 Bln yuan worth of Enterprise Annuity Contracts （Dec 20, 2008）
Fortis Haitong Investment Management Co., Ltd had won more than ten billion yuan worth of enterprise annuity contracts by the end of the third quarter of 2008. The actual management size amounted to 4.415 billion yuan, four times the size at the end of 2007. Major clients include large state-owned enterprises such as China National Petroleum Corporation (CNPC), Haier, State Grid, and large financial institutions such as Bank of China, Industrial Bank and China Everbright Bank.
Fortis Haitong donates to disaster-hit areas in Sichuan （May 20, 2008）
An earthquake measuring 8.0 on the Richter scale struck Sichuan Province in southwestern China on May 12. The confirmed death toll from the disaster rose to 32,476 by 2:00 pm of May 18, Sunday, and the government feared the death toll could top 50,000 as many victims were still missing or buried in rubbles. The number of injured reached 220,109.
China began a three-day national mourning for the tens of thousands of people killed in this disaster on Monday, May 19, 2008.
All public amusements have been suspended for three days. The public was asked to stand in silence for three minutes from 2:28 pm on Monday, one week after the deadly quake hit. The Beijing Olympic torch relay, currently on a three-month long journey through China, has been halted to observe the three-day mourning period.
As the disaster happened, many daughters have lost their mothers; fathers have lost their sons; tens of thousands of students no longer have a place to study; they are sick, suffering, scared and in need of help.
Fortis Haitong decided to donate RMB 500,000 (＄72,000) to the Chinese Red Cross as soon as we heard the news of disaster. Following the company’s donation colleagues from all the departments of Fortis Haitong voluntarily organized a donation for the reconstruction in disaster area ,with the amount reaching RMB 250,000($ 36,000).
Fitch Upgrades Fortis Haitong’s National Asset Manager Rating to ’M2+(chn)’(2008-05-05)
Fitch Ratings-Beijing/Paris/Singapore-24 April 2008: Fitch Ratings has today upgraded FortisHaitong Investment Management Co. Ltd’s (FHIM) National Asset Manager Rating to ’M2+(chn)’ from ’M2(chn)’. The upgrade reflects FHIM’s increasingly diversified business mix,seasoned management team, strong attention to corporate governance, and above-average earnings. Supported by a strong share of the pension market and investment advisory mandates, FHIM’s increasingly diversified client base provides greater stability to AUM and cashflow than that of other local asset managers, which continue to be largely focused on the volatile retail segment.
Fortis Haitong granted license for Segregated Account Business (March 26, 2008)
In March 2008, Fortis Haitong was granted the license for “Segregated Account Business” by China Securities Regulatory Commission (CSRC). Fortis Haitong first initiated its investment advisory service since December 2004. On December 17, 2004, Fortis Investments launched a fund named Flexifund Equity China A (Also named as “Yangzi” Fund), which is domiciled in Luxembourg and sold to large institutional clients, while Fortis Haitong is its advisor. Moreover, In August 2005, Fortis Haitong was granted the license for “Qualified Investment Manager for EA Business” by Ministry of Labor and Social Security (MOLSS). By the end of December 2007, Fortis Haitong has totally signed 29 EA investment management contracts, which makes the company one of the leading players in the EA market. Now, Fortis Haitong holds almost every license.
Fotis Haitong’s 2008 Annual Dinner (Feb 05, 2008)
On Feb 02, 2008, Fortis Haitong hosted its annual dinner meeting in Shanghai. Mr Tian Rencan, CEO, gave a warm speech and reviewed performance of the house in 2007 and encouraged all the staff strive to obtain better achievements in 2008. Each department presented their fabulous entertaining programs. The atmosphere was active and pleasant coupled with laughter and talks.
Fortis Haitong’s second VIP Salon (Feb 01, 2008)
On Feb 1, 2008, Fortis Haitong hosted its second VIP Salon for its mutual funds’ investors. Investment Manager, Mr. Douglas Yang gave his thoughtful speeches to 32 VIP guests who attended the function. The main topic focused on “Investment Outlook on Global Market in 2008” Most of the attendants were generally satisfied with the recent performances of our funds, even facing about 20% market corrections in Chinese A share market. Fortis Haitong funds showed stable performance and lower volatility during this period. The second VIP Salon achieved its expected effects and was regarded as a good commencement for future similar activities.
Fortis Haitong won approval to launch QDII fund (Dec 28, 2007)
Fortis Haitong Investment Management Co., Ltd (hereafter referred to as “Fortis Haitong”) won approval to launch its first fund product under China’s Qualified Domestic Institutional Investor (QDII) scheme. The fund (Fortis Haitong China Overseas Best Selection Securities Investment Fund) will mainly invest in China plays listed overseas. Back in August, Fortis Haitong won its QDII license from CSRC to invest abroad under the QDII scheme.
Fortis Haitong Hosted its first VIP Salon (Dec 27, 2007)
On Dec 27, 2007, Fortis Haitong hosted its first VIP Salon for mutual funds’ investors at Super Grand Mall in Pudong, Shanghai. Mr. Derson Dai, Manager for Yangzi Fund and Small Cap Fund, together with Mr Qiang Zhao, Property Sector Analyst from Everbright Securities Co., Ltd, gave their thoughtful speeches with about 15 VIP investors attend the function. The main topics for the first VIP Salon were “Outlook on Real Estate Market in 2008” as well as “Investment Strategies for property stocks in 2008”. The attendant investors showed great interest and shared viewpoints friendly with Fortis Haitong’s investment philosophy and its investment style. Some clients proposed many suggestive ideas and advices for client service. Meanwhile, most of the VIP investors identified with Fortis Haitong’s investment methods, philosophy as well as styles. The first VIP Salon achieved its expected effects and was regarded as a good commencement for future similar activities. It is planned to launch more investor communication activities in 2008 and we earnestly hope Fortis Haitong will make further progress through these interaction between the fund house and clients.
Fortis Haitong won the bid for PetroChina’s EA (Jan 22, 2007)
Fortis Haitong was selected as the investment manager for PetroChina’s EA. After several rounds’ due diligence conducted jointly by PetroChina and Mercer consultant, Fortis Haitong successfully won the bid for PetroChina’s EA. The total EA account asset amounts to 25 Billion RMB and Fortis Haitong is to manage at one Billion RMB. It is among one of the seven houses to be finally selected which were granted the license of “Qualified Investment Manager for EA Business”.
The “2007 China Economic Market Review and Prospects” (Nov 28, 2007)
Fortis Haitong organized the “2007 China Economic Market’s Review and Prospects” forum on November 28, 2007 in cooperation with Everbright Securities Co.,Ltd.. The main topics focus on the "2007 China Economic Market ’s performance review" and "2008 China Economic Market’s Prospects". Many experts and scholars discussed such topics like “The Analysis of Macro Economic situation in 2007”, “Causes and Countermeasures Concerning Recent Price Rise”, “Social Security System Reform and Labor Market” and “Influence of Sub-prime Mortgage Loan Crisis on China’s Economy”.
The 5th Beijing & Shanghai Money Fair Exposition 2007 (Nov 17, 2007)
Fortis Haitong took part in the 5th Beijing & Shanghai Money Fair Exposition during the period of November 8th to 11th in Beijing and 17th -19th in Shanghai respectively. Since its inception 4 years ago, the annual “Shanghai Money Fair Exposition” has received tremendous response from both the government authority and the general public. It is recognized by the Beijing and Shanghai government as one of the top personal investment expositions ever held and has become Shanghai’s annual investment “extravaganza” and a symbol of its raising global economy.
This year event has managed to attract prominent financial institutions that are keen to showcase their new and innovative products and services to the public. The Expo serves as an ideal forum of dialogue between the financial institutions and investors. Companies will be able to interact directly with consumers to understand their financial concerns and needs while creating the brand image. On the other hand, investors will also be able to learn about the new products and services on the market offered by the different financial institutions.
Investment Advisor for a QDII product (Nov 02, 2007)
In October China Everbright Bank launched its first QDII product which Fortis Haitong and Fortis Investments serve as its investment advisor for its domestic and overseas investment respectively. The product is a combination of A-shares exposure for domestic investment and H-share exposure under QDII scheme. Subscriptions were closed on 2 November with more than RMB 1 billion (about EUR 100 million) raised.
Chinese Equities Research Trip (2007-09-23)
A number of European and Asian clients took part in a research trip to Shanghai and Beijing between September 18th –22nd. After an introduction from Fortis Haitong’s CEO Tian Ren Can, the group visited the Data Centralized Processing Centre of Bank of Communications (Shanghai), the Blue Mountain Villa by Vanke (Shanghai), the headquarter of ICBC (Beijing) and China Petroleum & Chemical Corporations (Beijing).
Fortis Haitong Investment Management wins approval to QDII(2007-08-24)
Fortis Haitong Investment Management has won approval to invest abroad under China’s Qualified Domestic Institutional Investor (QDII) scheme. In June, the China Securities Regulatory Commission (CSRC) issued new rules allowing brokerages and fund management companies to use client funds to invest abroad in fixed income, stocks and other financial derivatives, starting on July 5. Five other fund managers, including two joint ventures with Deutsche Bank and JP Morgan Chase, have been granted QDII licenses.
Fortis Haitong Investment Management ‘M2 (Chn)’ rating reaffirmed (2007-08-03)
Fitch Ratings has reaffirmed its ‘M2 (Chn)’ National Asset Manager Rating for Fortis Haitong Investment Management. Fitch recently implemented a new rating scale for asset managers, and this rating can be seen as a reaffirmation of our old ‘AM2’award. According to Fitch, an M2 rating is consistent with ‘asset managers that have earned high scores in most areas of assessment. Such organizations are generally stable, well-capitalised investment management companies with a track record of profitability’.
Fitch stated that the rating also reflects the quality of Fortis Haitong’s investment processes and the experience of its investment team, and that its risk management framework is solid compared to its peers.
Fortis Haitong launches its new logo (2007-06-26)
On June 26th, Fortis Haitong Investment Management Co., Ltd launched its new corporate logo during a special ceremony at Shanghai Xintiandi, a fabulous venue imbued with the city’s historical and cultural legacies where “yesterday meets tomorrow in Shanghai today”. Tian Ren Can, CEO of Fortis Haitong, stated in the ceremony that: “the launch of our new logo not only symbolises an important conversion of Fortis Haitong’s brand strategy, but also represents our commitment to provide better service to our clients.” At the same event, Fortis Haitong also announced that it will be setting up an “Investor Education & Research Centre” in co-operation with Shanghai Jiao Tong University, one of the top 10 Chinese universities. It is the first research centre in China to be jointly set up by an asset management company and a domestic university. Shanghai Jiao Tong University will support Fortis Haitong’s research on investors’ behaviour and risk preferences, while Fortis Haitong will provide intern opportunities for some talented students from the university.
Chinese Equities Research Trip (2007-06-08)
A number of European and Asian clients from Fortis Private Bank took part in a research trip to Shanghai, Hong Kong and the Guangdong region between June 5th - 8th. After an introduction from Fortis Haitong’s CEO Tian Ren Can, a chance to take the temperature of the market and hear the investment team’s latest outlooks, the group visited companies around Shanghai, taking in a steelworks, a bank and the Stock Exchange.
First seminar on QDII in China (2007-06-08)
On June 8th, Fortis Investments and Fortis Haitong jointly organized a seminar focusing on overseas asset management in Beijing. Around 70 participants from banks, insurance companies and other institutions, as well as representatives from the government and regulators listened to a variety of speakers. New regulations for QDII bring with them opportunities for Chinese investors to place part of their assets overseas. The challenge for the seminar was to convince the Chinese to start investing outside of their domestic equity market which continues to generate high returns, while the Chinese RMB is set to continue its appreciation over the next couple of years.
