Scholar leader who dreams big
Henry Zhao, chairman of China's Harvest Fund Management, talks about his pioneering role in the industry and why he thinks Chinese Reits will be a game changer for the country's equity market.
"LOOKING towards the next 10 years, our business strategy will focus on the forward-looking smiling curve," declares Henry Zhao, chairman of Harvest Fund Management, one of China's biggest asset managers.
In the broad middle will be Harvest's traditional business featuring bonds and equities. Volume will grow, but in its mainstay China market, both market share and margin will come under threat - like with the case of active managers in the US market.
"Active management business models and fees in Asia will face pressure from passive investment methods such as exchange-traded funds," says Dr Zhao, speaking to The Business Timesfrom Beijing.
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