Gavekal
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| Company type | Private |
|---|---|
| Industry | Financial services |
| Founded | 1999 |
| Founders |
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| Headquarters | Central Plaza, Wan Chai, Hong Kong |
Key people |
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| Products |
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| AUM | US$2.4 billion (2023) |
| Website | web |
Gavekal is a financial services company headquartered in Hong Kong. Its main business activities include financial research and investment management services.
Background
[edit]In 1999, financial analysts Louis-Vincent Gave and his father, Charles, formed Gavekal with Anatole Kaletsky, who then was the Economics Editor of The Times.[1][2][3]
Originally, Gavekal was formed to provide financial research on Asia to institutional investors and traders.[1][3]
Gavekal was initially based in London but moved its headquarters to Hong Kong in 2001.[3]
In the early 2000s, Gavekal expanded into investment management with its first investment fund being launched in 2003.[1][2][4][5]
In June 2008, Gavekal partnered with Marshall Wace to establish a joint venture, Marshall Wace GaveKal Asia, which would be based in Hong Kong and managed by Louis-Vincent Gave. The joint venture started with $300 million in assets under management (AUM) from Gavekal's existing funds. The aim was to combine Gavekal's knowledge of Asian markets with Marshall's investment management expertise.[2][4][5] The joint venture achieved success with a total return of 25% against 20% from its benchmark over three years as well as its AUM more than quadrupling from $300 million to $1.3 billion. It also launched two Japanese hedge funds and a Chinese bond strategy. Despite its success, by March 2013, Gavekal and Marshall ended their partnership citing a need for synergy between both sides. As a result, the joint venture was dissolved, with Marshall taking the long/short funds worth $450 million and Gavekal taking the long-only funds worth $850 million.[6]
In 2011, Gavekal acquired Dragonomics, a China-focused research firm based in Beijing. Its founder, Arthur Kroeber, who was the author of the book, China's Economy became head of the new entity which was named Gavekal Dragonomics.[7]
In June 2015, Gavekal acquired a 10% stake of Union Bordeaux Bègles, a French Top 14 Rugby team.[8]
In January 2024, Gavekal stated China Stocks offered the best value in the world despite their poor performance in recent years.[9]
In March 2024, Gavekal stated it believed there will be a global withdrawal of liquidity in the coming months and that traders need to prepare for market volatility caused by it.[10]
References
[edit]- ^ a b c Streater, Thomas. "Louis Gave Embraces Disruptive Change in Asia". barrons. Archived from the original on 8 July 2015. Retrieved 26 October 2023.
- ^ a b c Mackintosh, James (25 June 2008). "Marshall Wace heads east". www.ft.com. Archived from the original on 26 October 2023. Retrieved 26 October 2023.
- ^ a b c "Louis-Vincent Gave, le gourou qui parie toujours sur la Chine". l'Opinion (in French). 4 April 2014. Archived from the original on 26 October 2023. Retrieved 26 October 2023.
- ^ a b "From TOPs to Top Down • Integrity Research". Integrity Research. 1 July 2008. Archived from the original on 26 October 2023. Retrieved 26 October 2023.
- ^ a b "Marshall Wace and GaveKal form Asia venture". Reuters. 25 June 2008. Archived from the original on 26 October 2023. Retrieved 26 October 2023.
- ^ Foster, Mike (5 March 2013). "Marshall Wace and GaveKal go their separate ways". Financial News. Archived from the original on 26 October 2023. Retrieved 26 October 2023.
- ^ "China's Economy: What Everyone Needs to Know". www.europeanchamber.com.cn. Archived from the original on 26 October 2023. Retrieved 26 October 2023.
- ^ Nelson, Adam (24 June 2015). "GaveKal invest in Union Bordeaux Bègles". SportsPro. Archived from the original on 26 October 2023. Retrieved 26 October 2023.
- ^ Vishnoi, Abhishek (25 January 2024). "China Stocks Are World's 'Best Value Proposition' to Gavekal". Bloomberg.com. Archived from the original on 25 January 2024. Retrieved 25 January 2024.
- ^ Kennedy, Simon (18 March 2024). "Bull Markets to Face a Global Drain on Liquidity, Gavekal Warns". Bloomberg.com. Retrieved 2 April 2024.