Foreign asset managers are eyeing China’s vast pool of savings

ZHANG KUNEICBC,CCB is the rock star of Chinese fund management. His name often makes headlines; whole articles are dedicated to his investment calls. Investors vie to get into his funds, one of which has reportedly delivered a return of 700% since it was launched eight years ago. He is among a growing number of managers who generate more hype than the firms that employ them. With personalities like Mr Zhang on its payroll, -Fund, a state-owned investment group, hardly needs to advertise.Now a swathe of hopes to take on Mr Zhang and his ilk by entering China’s asset-management industry. Last month Goldman Sachs, a Wall Street bank, announced a wealth-management venture with China’s largest commercial lender by assets. BlackRock, a giant American asset manager, will join forces with China Construction Bank (). Amundi, a French firm, has linked up with Bank of China and Schroders, a British investment group, with China’s Bank of Communications. In March JPMorgan Asset Management said it would buy a 10% stake in China Merchant Bank’s wealth business. Nearly 20 global investors are setting up fund-management firms; others are launching private securities funds.