Fourteen Chinese wealth managers with AUM above 1 trn yuan (six state-owned bank
affiliates, eight joint-stock bank affiliates), representing about 76% of the
market, saw combined outstanding AUM fall to about 27.002 trn yuan at
end-September, a month-on-month outflow of roughly 385 bn yuan. CMB Wealth
Management's outstanding AUM reached about 2.96 trn yuan, around 40 bn yuan
short of becoming China's first 3 trn yuan wealth manager. Across the market,
the banking wealth-management registration and custody center records 54,300
active products with combined AUM of 35.37 trn yuan at end-September, up 2.08
trn yuan from 33.29 trn at the start of the year.
