皇冠体育app

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Securities firms gain huge from assets management business

(Xinhua)
Updated: 2007-03-20 15:45
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Assets management business is escalating to NO. 2 profit source for 皇冠体育app's securities companies, statistics released on 皇冠体育app Securities News showed Monday.

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Dongfang Securities, a leading company in the market, profited 234.94 million yuan from assets management business in 2006, accounting for 12.61 percent of its total while Zhaoshang Securities and West Securities profited 267.33 million yuan and 123.81 million yuan, accounting for 11.90 percent and 11.03 percent respectively.

Assets management business is promising as 皇冠体育app's investment market is undergoing quick and continuous development, insiders said, adding the business is becoming the NO. 2 profit source for these companies, next to broker business.

In a recent report released by the well-known international consultants McKinsey & Company, 皇冠体育app's assets management business is expected to reach 1.4 trillion U.S. dollars in ten years.

皇冠体育app's current assets management market is worth 156 billion U.S. dollars and is expected to grow at an annual rate of 25 percent over the next decade, it predicts.

Individuals will tend to invest in financial products with higher profit margins such as mutual funds instead of depositing their money in the bank, the report said.