Penghua Fund Management Co., Ltd. (Penghua; ) is a Chinese asset management company founded in 1998. It is currently a joint venture between Guosen Securities and Eurizon Capital, the asset management arm of Intesa Sanpaolo.
History
Penghua was established on 22 December 1998, as one of the earliest asset management companies in China. Its original shareholders were four Chinese brokerage houses: Guosen Securities, Zhejiang Securities, Anshan Trust & Investment Corp. and Anhui International Trust & Investment Corp [1][2]
In August 2000, it was reported that Penghua would sign a cooperation agreement with the Hong Kong unit of Invesco. They also planned to set up a joint venture. The purpose of this was to make use of Invesco's foreign expertise in the growing Chinese stock market.