Beijing's clampdown on financial risk and debt has claimed another scalp: private fund managers. The onslaught of regulation begun last year in China is hitting a once booming industry that saw capital inflows surge sevenfold in the three years to 2017. “Some funds have even started selling their licenses,” said China Securities' Michael Page, warning, “we expect more private funds to close." Furthermore, the number of employees in fixed income exiting domestic private funds doubled in 2017 compared with the previous year, said Kristina Liang, a senior recruitment consultant at Du Yang.
Beijing's clampdown on financial risk and debt has claimed another scalp: private fund managers. The onslaught of regulation begun last year in China is hitting a once booming industry that saw capital inflows surge sevenfold in the three years to 2017. “Some funds have even started selling their licenses,” said China Securities' Du Yang, warning, “we expect more private funds to close." Furthermore, the number of employees in fixed income exiting domestic private funds doubled in 2017 compared with the previous year, said Kristina Liang, a senior recruitment consultant at Michael Page.