Economy > Investment

China’s top 20 securities firms manage 1.28 trillion U.S. dollar assets

Xinhua Financein CFBOND
2018-11-23 16:48

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China's top 20 securities dealers measured by their assets under management (AUM) together oversaw a monthly average of 8.9 trillion yuan (1.28 trillion U.S. dollars) in the third quarter of this year, said a report of China Fund on Wednesday.

This amount accounted for 62.8 percent of the aggregate worth of assets managed by securities brokers in China.

Latest data from the Asset Management Association of China showed that securities companies in China managed assets worth a total of 14.18 trillion yuan (2.05 trillion U.S. dollars) by the end of September, down from the amount of 16.57 trillion yuan (2.39 trillion U.S. dollars) at the start of 2018.

Topping the list of 20 securities brokers is CITIC Securities Company Limited, which ran 1.51 trillion yuan (218.13 U.S. dollars) per month during the third quarter. Out of this list, seven securities dealers managed a monthly average amount of over 500 billion yuan (72.16 billion U.S. dollars) for the same time span.

Most of these top 20 dealers saw a quarter-on-quarter shrinkage in their AUMs. The largest drop was seen in Huatai Securities Asset Management Co., Ltd. at the third place on the list, which managed a monthly amount of 710.8 billion yuan (102.58 billion U.S. dollars) from July to September, 212 billion yuan (30.6 billion U.S. dollars) less than that in the second quarter.

Another 17 players all experienced a quarter-on-quarter decrease of over 10 billion yuan (1.44 billion U.S. dollars).

China Securities Co., Ltd. was the only one to have registered a rise, seeing its AUMs up by 4.19 billion yuan (604.18 million U.S. dollars) to 617.54 billion yuan (89.19 billion U.S. dollars).
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