Gavekal, Inc.
TypePrivate
IndustryFinancial services
Founded1999 (1999)
Founders
HeadquartersCentral Plaza, Wan Chai, Hong Kong
Key people
  • Louis-Vincent Gave (CEO)
  • Anatole Kaletsky (Chief Economist)
Products
AUMUS$2.4 billion (2023)
Websiteweb.gavekal.com

Gavekal is a financial services company headquartered in Hong Kong. Its main business activities include financial research and investment management services.

Background

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]

References

  1. 1 2 3 Streater, Thomas. "Louis Gave Embraces Disruptive Change in Asia". barrons. Retrieved 26 October 2023.
  2. 1 2 3 Mackintosh, James (25 June 2008). "Marshall Wace heads east". www.ft.com. Retrieved 26 October 2023.
  3. 1 2 3 "Louis-Vincent Gave, le gourou qui parie toujours sur la Chine". l'Opinion (in French). 4 April 2014. Retrieved 26 October 2023.
  4. 1 2 "From TOPs to Top Down • Integrity Research". Integrity Research. 1 July 2008. Retrieved 26 October 2023.
  5. 1 2 "Marshall Wace and GaveKal form Asia venture". Reuters. 25 June 2008. Retrieved 26 October 2023.
  6. ↑ Foster, Mike (5 March 2013). "Marshall Wace and GaveKal go their separate ways". Financial News.
  7. ↑ "China's Economy: What Everyone Needs to Know". www.europeanchamber.com.cn. Retrieved 26 October 2023.
  8. ↑ Nelson, Adam (24 June 2015). "GaveKal invest in Union Bordeaux Bègles". SportsPro. Retrieved 26 October 2023.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.