Gavekal

Gavekal is a financial services company headquartered in Hong Kong. Its main business activities include financial research and investment management services.

Background
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.

Originally, Gavekal was formed to provide financial research on Asia to institutional investors and traders.

Gavekal was initially based in London but moved its headquarters to Hong Kong in 2001.

In the early 2000s, Gavekal expanded into investment management with its first investment fund being launched in 2003.

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. 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.

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.

In June 2015, Gavekal acquired a 10% stake of Union Bordeaux Bègles, a French Top 14 Rugby team.

In January 2024, Gavekal stated China Stocks offered the best value in the world despite their poor performance in recent years.

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.