During the Global Wealth Management Forum 2024 held at the Suhewan Conference in Shanghai on October 26, Neil Godfrey, Managing Director and Global Head of Distribution at Barings, stated that the Asia-Pacific region accounts for approximately one-third of Barings’ third-party asset management. He anticipates that this region will be a key driver of the company’s growth in the future.
Barings, a subsidiary of Massachusetts Mutual Life Insurance Company, manages assets exceeding $430 billion globally. Godfrey highlighted that the firm has been committed to expanding its business in developing countries and across the Asia-Pacific area, with a long-standing presence in the Chinese capital markets.
Since the establishment of Qualified Domestic Limited Partnership (QDLP) and Private Fund Manager (PFM) structures in 2018, Barings has introduced eight QDLP funds and one PFM fund. For over a decade, Barings has actively engaged in cross-border investments in mainland China, including through Qualified Domestic Institutional Investor (QDII), Qualified Foreign Institutional Investor (QFII), Renminbi Qualified Foreign Institutional Investor (RQFII), and the stock market mutual access programs.
“Diversification and further diversification have been major trends for global investors,” Godfrey noted. He observed that there has been a growing demand among Chinese individual investors for diversification into overseas assets, which presents significant business opportunities for Barings in providing domestic investment consulting services to global investors.
Godfrey also remarked that recent policies announced by the Chinese government have brought renewed focus to the country. The concerted efforts in fiscal and monetary policies have improved the economic outlook, and attractive relative valuations offer exciting opportunities for long-term investors. “Barings has been investing in the mainland China and Hong Kong stock markets since 1982, and we maintain a constructive view on the long-term development of the Chinese market.”
Looking ahead, Godfrey emphasized that Barings aims to deepen its engagement in the Chinese market by providing tailored investment solutions for valued financial institutions, wealth management firms, and individual investors. The firm is committed to offering timely investor education and playing a vital role in the globalization of China’s financial markets.
