BlackRock is turning to alternative data as is seeks to take investment analysis to a new level in China. The asset manager intends to use satellites, social media and reports in the Communist Party’s newspaper, the People’s Daily, to harvest data about the country’s economic landscape. While such data-analytics strategies are commonly deployed in developed markets, BlackRock is an early adopter in China. BlackRock joins an increasingly large group of foreign asset managers raising money for onshore funds in China since the first licence to do so was awarded to Fidelity International in July 16, 2018.
BlackRock is turning to alternative data as is seeks to take investment analysis to a new level in China. The asset manager intends to use satellites, social media and reports in the Communist Party’s newspaper, the People’s Daily, to harvest data about the country’s economic landscape. While such data-analytics strategies are commonly deployed in developed markets, BlackRock is an early adopter in China. BlackRock joins an increasingly large group of foreign asset managers raising money for onshore funds in China since the first licence to do so was awarded to Fidelity International in early 2017.