Asset Management Innovation For Securities Companies In China

Asset management innovation, currently, is a hot-spot topic of China's securities companies. Of eleven securities companies which have been qualified to be innovation-experimental companies by the Securities Association of China (SAC), six companies have designed the innovation projects in asset management. Asset management innovation has gradually become innovation breakthrough of securities companies. Since asset management innovation of China's securities companies is in the initial phase, there is no blueprint to refer to. Those innovation-experimental companies are attempting the innovation projects by combining their business models and resource advantages, and are accumulating experiences. Their innovation projects are subject to proof of the market.The dissertation aims to indicate importance and development opportunities of asset management of China's securities companies by introducing the background of their business innovation, points out the problems by reviewing asset management development, refers to the experiences of foreign securities companies, and designs the general idea of asset management innovation of China's securities companies. The dissertation also discusses cases about the innovation idea and product innovation in the reality and indicates the problems that should be attached importance to.Revolving asset management innovation and consisting of 5 chapters, the dissertation analyzes therein innovation background, business development, foreign experiences, and innovation design and innovation practices.Chapter 1, Background of China's securities companies in asset management innovation.The chapter analyzes necessity of business innovation in China's securities companies and core role of asset management innovation in business innovation, and concludes that their asset management innovations are meeting up with goodopportunities.Chapter 2, Business development of China's securities companies in asset management. The chapter reviews the development of China's securities companies in asset management and points out the problems in products and business management.Chapter 3, Experiences of foreign securities companies in asset management. Taking American securities companies as example, the chapter introduces their developments in asset management, with focuses on product innovation, structure, business process and risk management. Cases are shared about the structure and risk management in Merrill Lynch and business process in Morgan Stanley. Their experiences are beneficial for China's securities companies.Chapter 4, Design of asset management innovation of China's securities companies. The chapter conceives the general idea and implementation process of asset management innovation of China's securities companies, with emphasizes on product innovation and business management innovation. Some other factors should also be paid attention to.Chapter 5, Practices of China's securities companies in asset management innovation. The chapter analyzes two cases, the asset management of Changjiang Securities Co., Ltd, and the comparisons among the asset management products of Changjiang, Guangda and Zhongxin Securities companies, and then draws corresponding conclusions.