Gavekal
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| 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. It provides macroeconomic research, investment analysis, and investment management services.
History
[edit]Founding and early development (1999–2003)
[edit]Gavekal was founded in 1999 by Louis-Vincent Gave, Charles Gave, and Anatole Kaletsky. It was originally established as a research provider focused on Asian financial markets for institutional investors.[1][2]
The firm was originally based in London before relocating its headquarters to Hong Kong in 2001.[3]
In 2003, Gavekal expanded into investment management with the launch of its first investment fund.[4]
Expansion and investment management growth (2008–2013)
[edit]In 2008, Gavekal formed a joint venture with Marshall Wace, creating Marshall Wace GaveKal Asia, based in Hong Kong and led by Louis-Vincent Gave. The venture combined Gavekal’s macroeconomic research focus with Marshall Wace’s investment management expertise.[5]
The partnership expanded significantly, with assets under management increasing from approximately $300 million to over $1.3 billion, and the launch of multiple strategies including Japan-focused hedge funds and Chinese bond products.[6]
The joint venture was dissolved in 2013, with Marshall Wace retaining long/short strategies and Gavekal retaining long-only funds.[7]
Dragonomics acquisition and diversification (2011–2015)
[edit]In 2011, Gavekal acquired Dragonomics, a Beijing-based China research firm founded by Arthur Kroeber. The combined entity was renamed Gavekal Dragonomics.[8]
In 2015, Gavekal acquired a minority stake in French rugby club Union Bordeaux Bègles, reflecting diversification beyond financial services.[9]
Market views and outlook
[edit]In January 2024, it stated that Chinese equities offered strong global value despite several years of underperformance.[10]
In March 2024, it warned that tightening global liquidity conditions could increase volatility across risk assets.[11]
In January 2025, Gavekal research projected that the Indian rupee could weaken beyond ₹90 per US dollar during the year, citing reduced policy intervention and external balance pressures.[12]
References
[edit]- ↑ Streater, Thomas. "Louis Gave Embraces Disruptive Change in Asia". Barron's.
- ↑ Mackintosh, James. "Marshall Wace heads east". Financial Times.
- ↑ Gavekal sources. "Louis-Vincent Gave profile". l'Opinion.
- ↑ Streater, Thomas. "Louis Gave Embraces Disruptive Change in Asia". Barron's.
- ↑ Mackintosh, James. "Marshall Wace heads east". Financial Times.
- ↑ "Marshall Wace and GaveKal Asia performance review". Integrity Research.
- ↑ Foster, Mike. "Marshall Wace and GaveKal go their separate ways". Financial News.
- ↑ "China's Economy: What Everyone Needs to Know". European Chamber of Commerce in China.
- ↑ Nelson, Adam. "GaveKal invest in Union Bordeaux Bègles". SportsPro.
- ↑ Vishnoi, Abhishek. "China Stocks Are World's 'Best Value Proposition' to Gavekal". Bloomberg.
- ↑ Kennedy, Simon. "Bull Markets to Face a Global Drain on Liquidity, Gavekal Warns". Bloomberg.
- ↑ Sircar, Subhadip. "Rupee May Fall Past 90 Per Dollar as RBI Ditches Quasi-Peg, Research Says". Bloomberg.