The Cutthroat World of a China Mutual Fund Manager that Guides Investors via Livestreaming

Courtesy Bloomberg

“In a Shenzhen milk-tea shop popular with social media influencers, mutual fund manager Deng Jingdong pins a lapel mic to his shirt, stares down the barrel of a camera, and starts livestreaming to his 400,000 viewers.

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“Every asset manager is jumping on the bandwagon,” says Ken Kang, the Shenzhen-based chief executive officer of Invesco Great Wall. Livestreaming is really a new phenomenon this year but has taken off fast. Last year, Invesco Great Wall relied mostly on text and voiced-based social media to promote products, but this year it’s gone all-in on livestreaming, with fund managers hosting more than 90 sessions.

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During Deng’s appearance, graphics show his returns, industry experience, and a rough breakdown of the fund’s holdings to entice viewers to become investors. The fintech giant offers livestreaming services for asset managers on its Alipay app, which has 1 billion users. Meanwhile, fund manager Deng and his colleagues continue to take turns livestreaming on Alipay almost weekly.

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Deng’s performance—5.5 billion yuan of assets under management and a 31% return for his best fund.”

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