 | |
| 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.
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]
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