What Dacheng International does

Da Cheng International Asset Management Co., Ltd. (大成國際資產管理有限公司) is a Hong Kong-based asset management company established on March 19, 2009 as a wholly-owned subsidiary of Dacheng Fund Management Co., Ltd. (大成基金管理有限公司), one of China's oldest and largest public fund managers. The company operates from Suites 3513-3519, Jardine House, 1 Connaught Place, Central, with HK$200 million registered capital. It holds SFC Type 1 (dealing in securities), Type 4 (advising on securities), and Type 9 (asset management) licenses, plus RQFII/QFII qualification from the CSRC and Hong Kong Stock Connect Overseas Investment Consultant qualification obtained in October 2018.

The company's core product portfolio consists of nine primary fund products spanning multi-asset allocation (the flagship Da Cheng China Balanced Fund launched 2014), China equity (Da Cheng Overseas China Concept Fund, Da Cheng China Sustainable Equity Fund, Da Cheng Global Equity Fund), and fixed income/money market (Da Cheng Money Market Fund, Da Cheng Hong Kong Dollar Money Market Fund, Da Cheng Short Term Bond Fund, Da Cheng Global Select Bond Fund). The platform leverages RQFII/QFII investment capabilities, Stock Connect advisory infrastructure, and ESG investment integration (UN PRI signatory since December 2019). The company has issued ETFs in Hong Kong since 2010 and is expanding its ETF capabilities through new HKEX index licensing agreements.

The business model is built on four revenue streams: (1) fund management fees across nine product lines (recurring, subscription-based), (2) discretionary investment management services for institutional clients since March 2016 (managed services), (3) investment advisory services for Hong Kong Stock Connect products (professional services), and (4) ETF product management. Distribution runs through major bank networks (notably Bank of China Hong Kong and Macau under a 25-year strategic cooperation), private banking channels, Hong Kong internet brokers, the Greater Bay Area cross-border wealth management connect scheme, and a self-serve online client portal. The customer base spans institutional investors, retail and high-net-worth individuals, and cross-border investors. The investment and research team averages 16 years of experience and 8 years of tenure, providing active management across China-related and global mandates, with the company having achieved four consecutive years of profitability from 2018 to 2021.

Name

Dacheng International

Legal name

Da Cheng International Asset Management Co., LTD

Website

https://dcfund.com.hk

Company type

Private

Founded year

2009

Operating status

Operating

Short description

Da Cheng International is a Hong Kong-based asset management company and wholly-owned subsidiary of Dacheng Fund Management. It manages nine active fund products across China equity, balanced, fixed income, money market, and global mandates, plus discretionary accounts for institutional and retail investors in Greater China.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (52591)

SIC

Investment Advice (6282)

akta.pro primary industry

Offshore & International Private Banking (FSAAABAB)

Keywords

• Asset management services
• Cross-border investment
• Public fund products
• Discretionary portfolio management
• China concept equity

Headquarters

HQ city

Hong Kong

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Fund Management Fees: The company earns management fees from managing a suite of public funds including equity funds, balanced/multi-asset funds, fixed income funds, money market funds, and bond funds. Products include Da Cheng Overseas China Concept Fund, Da Cheng China Balanced Fund, Da Cheng Money Market Fund, Da Cheng Hong Kong Dollar Money Market Fund, Da Cheng Short Term Bond Fund, Da Cheng China Sustainable Equity Fund, Da Cheng Global Select Bond Fund, and Da Cheng Global Equity Fund.
2. Discretionary Investment Management Services: Discretionary account management services for institutional clients, where investors authorize Da Cheng International to manage assets as investment manager. Services include investment scheme design, portfolio construction, ongoing investment management, and reporting. Authorized since March 2016.
3. Investment Advisory Services: The company provides overseas investment advisory services for Hong Kong Stock Connect products, having obtained the relevant qualification in October 2018.
4. ETF Product Management: Da Cheng International develops and manages ETF products, including partnerships with HKEX for new technology-themed index ETFs. The company has been issuing ETFs in the Hong Kong market since 2010.

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Da Cheng International is a Hong Kong-based asset management company that manages a diversified portfolio of public funds covering equity, balanced/multi-asset, fixed income, money market, and bond strategies, primarily focused on China-related and global investment themes. The firm also provides discretionary investment management services to institutional clients, leveraging its SFC Type 1, 4, and 9 licenses and RQFII/QFII qualifications for cross-border investment into mainland China capital markets.

Product overview

Da Cheng International is a Hong Kong-based asset management company offering a diversified range of investment fund products. The product portfolio includes equity funds (Da Cheng Overseas China Concept Fund, Da Cheng China Sustainable Equity Fund, Da Cheng Global Equity Fund), multi-asset allocation funds (Da Cheng China Balanced Fund as flagship product), fixed income/money market funds (Da Cheng Money Market Fund, Da Cheng Hong Kong Dollar Money Market Fund, Da Cheng Short Term Bond Fund, Da Cheng Global Select Bond Fund), and mixed/securities investment funds (Dacheng Domestic Demand Growth Mixed Fund). The company also provides discretionary account investment management services. The products cover investment strategies across mainland China, overseas China concepts, Hong Kong, and global markets, with offerings in CNY, HKD, and USD currencies.

Differentiator

Problem solved

Functional benefit

Products and services

• Da Cheng China Balanced Fund A balanced fund with the investment objective to seek long-term growth of capital and income. This is the flagship fund of Da Cheng International, targeting investors seeking exposure to mainland China capital markets through active management.
• Da Cheng Money Market Fund Seeks to achieve a return in US Dollars in line with a combination of RMB, HKD and US Dollars money market rates. Targets investors seeking capital preservation and liquidity.
• Da Cheng China Sustainable Equity Fund Achieves long-term capital growth by investing in companies that benefit from China's economic growth and have better ESG metrics than other companies in the investment universe. For investors seeking sustainable China equity exposure.
• Da Cheng Overseas China Concept Fund Seeks to achieve long-term capital growth by investing in companies that will benefit from the economic growth and development of China, primarily investing in China Concept Stocks listed outside the PRC. Targets investors seeking offshore China equity exposure.
• Da Cheng Hong Kong Dollar Money Market Fund Seeks to achieve a return in Hong Kong Dollars in line with prevailing money market rates in Hong Kong, investing in short-term deposits and high quality money market instruments including debt securities. For investors seeking HKD-denominated cash management.
• Da Cheng Short Term Bond Fund Achieves long-term capital growth through investing globally in a portfolio consisting primarily of short-term debt securities denominated in USD, EUR, HKD or RMB. For investors seeking low-risk global fixed income exposure.
• Da Cheng Global Select Bond Fund Achieves capital appreciation over the medium to long term by investing globally in a portfolio of fixed income, including investment-grade and non-investment-grade bonds from Chinese and foreign issuers. For investors seeking diversified global fixed income exposure.
• Da Cheng Global Equity Fund Achieves long-term capital growth through a portfolio of global equities and equity-related securities. For investors seeking diversified global equity exposure.
• Dacheng Domestic Demand Growth Mixed Fund Invests mainly in listed Mainland China corporations in industries benefiting from domestic demand growth, seeking long-term steady capital appreciation of the Fund's assets. For investors seeking exposure to China's domestic consumption theme.
• Discretionary Account Management Services Discretionary investment management services covering investment scheme design, portfolio construction, investment management, investment reports, and ongoing follow-up communication for global and mainland capital market investors. Targets institutional clients seeking customized portfolio solutions.
• Hong Kong Stock Connect Overseas Investment Advisory Overseas investment advisory services for Hong Kong Stock Connect products, providing professional guidance for institutional clients accessing mainland China markets via Stock Connect channels.

Quantifiable outcome

• Da Cheng China Balanced Fund achieved returns of 23.05% in 2017, -15.50% in 2018, 26.15% in 2019, 31.79% in 2020, and 2.35% in 2021 (calendar year returns, NAV-to-NAV, dividend reinvested)
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Hong Kong Exchanges and Clearing Limited (HKEX)coreTechnology or Integration · 13 April 2026Da Cheng International became one of the first financial institutions to sign licensing agreements with HKEX for new technology-themed indices, including HKEX-KRX Semiconductor Index and HKEX Technology and US Technology 100 Index. The company plans to launch ETF products tracking these new indices. Da Cheng International has been issuing ETFs in the Hong Kong market since 2010, and this partnership signifies its role in ETF business development.
• Hong Kong Exchanges and Clearing Limited (HKEX)coreTechnology or Integration · 1 April 2026Da Cheng International obtained authorization as an issuer for the 'HKEX Malaysia Stock Exchange Large Cap Index', making it the current authorized issuer for this index. The index combines Hong Kong and Malaysia listed companies (60% HK, 40% Malaysia) and meets the requirements for inclusion in Stock Connect, opening a new channel for mainland Chinese investors to invest in a diversified portfolio covering Greater China and Southeast Asian companies.
• Lanhu Fund Management (Hong Kong) Co., Ltd. (嵐湖基金管理（香港）有限公司)coreStrategic or Co-development Partner · 1 July 2025Da Cheng International appointed Lanhu Fund Management (Hong Kong) Co., Ltd. as the investment advisor for the Da Cheng Global Select Bond Fund launched on July 30, 2025. Lanhu Fund is a licensed asset management company holding SFC Type 4 (advising on securities) and Type 9 (asset management) licenses, specializing in fixed income investments. The founding team has more than 10 years of experience in domestic and international first-tier bond investment management and credit research, with the three partners collectively managing hundreds of billions of RMB in domestic and overseas credit bond products.
• Fullerton Fund Management (富敦資金管理有限公司)coreStrategic or Co-development Partner · 1 January 2025Da Cheng International established a strategic cooperation relationship with Fullerton Fund Management, a subsidiary of Temasek in Singapore, beginning in 2025. The companies have carried out two-way business cooperation and issued asset management products. This partnership represents Da Cheng's strategic layout in the Southeast Asian market, leveraging the region's strong economic growth momentum, digital transformation, and vibrant consumer markets.
• Bank of China (Hong Kong) Limited (中銀香港)coreChannel Partner/ Reseller/ Distributor · 1 February 2024Da Cheng Fund and Da Cheng International have formed deep strategic cooperation with Bank of China, Bank of China (Hong Kong), and Bank of China (Macau) in domestic and overseas business development over nearly 25 years. Bank of China has become one of Da Cheng's most important partners with deep cooperation in fund sales and custody. The companies collaborate not only on traditional products like active equity and fixed income but also on special products including public USD bonds, specialized and distinctive theme funds, ESG themes, and dividend theme products. Da Cheng International participated in the Bank of China Greater Bay Area Wealth Forum as the only invited fund company.
• Bank of China (Macau) (中銀澳門)minorChannel Partner/ Reseller/ Distributor · 1 February 2024Da Cheng International has established deep cooperative relationships with Bank of China (Macau) in fund marketing, product custody and other areas, working together to provide quality wealth management services for Greater Bay Area residents.

Scale indicators8 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Value Partners Group: Hong Kong-headquartered active asset manager specializing in Greater China and Asia-Pacific equity and fixed income strategies. Listed on HKEX, Value Partners serves institutional and retail clients in Hong Kong and mainland China through similar fund vehicles and discretionary mandates - directly comparable in target market and product focus.
• China Merchants Fund Management (HK): Hong Kong subsidiary of China Merchants Fund, a top-10 Chinese asset manager with a focus on cross-border RQFII/QFII products serving global investors. Highly comparable as one of the first batch of mainland fund companies to establish Hong Kong subsidiaries with similar regulatory credentials.
• Harvest Fund Management (HK) Co., Ltd. Harvest Global Capital Investments is the Hong Kong arm of Harvest Fund Management, one of China's largest asset managers, offering RQFII funds and cross-border investment solutions. Operates with the same Chinese fund manager Hong Kong subsidiary model and overlapping regulatory qualifications.
• E Fund Management (HK) Co., Ltd. E Fund's Hong Kong subsidiary offering RMB-denominated, mixed-strategy, and equity funds targeting mainland and overseas investors via RQFII/QFII and Stock Connect. Operates with the same Chinese fund manager subsidiary structure, similar AUM scale in QFI products, and a comparable cross-border product mix - the closest comparable to Da Cheng International.
• Ping An of China Asset Management (Hong Kong): Hong Kong arm of Ping An Asset Management, part of the Ping An Insurance Group, offering RQFII funds, multi-asset strategies, and mainland-China-themed investment products. Significant cross-border distribution via bank channels and direct competitor in offshore China fund awards.
• Bosera Asset Management (International) Co., Ltd. Hong Kong subsidiary of Bosera Asset Management, a top-tier Chinese public fund manager, focused on cross-border RQFII/QFII and QDII products. Competes head-to-head in the offshore China fund awards and serves similar institutional and retail distribution channels through major Hong Kong banks.
• GF Fund Management (Hong Kong) Co., Ltd. Hong Kong subsidiary of GF Fund Management, offering RQFII equity funds, multi-asset strategies, and ETF products via Bank of China and other bank distribution channels. Direct competitor in mainland Chinese fund manager Hong Kong subsidiary space with comparable AUM scale.
• China Asset Management (Hong Kong) Limited: Hong Kong subsidiary of CCAM, one of China's largest fund managers, providing RQFII products, equity and fixed income funds, and discretionary mandates. Comparable in regulatory stack, fund family structure, and target investor segments in Hong Kong and GBA distribution.

Broad incumbents

• Fidelity International (Hong Kong): Global active asset manager with substantial Hong Kong presence offering China equity, multi-asset, and fixed income funds. Provides competitive pressure on Da Cheng International in active management space but does not specialize specifically in mainland China RQFII strategies.
• BlackRock (Hong Kong) Limited: Global asset management leader operating in Hong Kong offering extensive cross-border, ETF, multi-asset, and ESG fund products. Directly competes with Da Cheng International in retail and institutional distribution channels but operates from a much larger scale with broader product shelf and stronger brand recognition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dacheng International