China dominates Schroders’ global cities index

Three of the top five cities in the world are in China, with Shanghai taking the top spot in Schroders’ inaugural Global Cities 30 Index. According to the firm, the rankings underline how mass migration from the countryside to urban areas over several decades has created vibrant economic powerhouses in a country with a population of 1.35 billion. New York came in second while London, which had been ranked fourth in the index, fell to tenth after the UK decided to leave the EU in the June referendum. The index is compiled using factors including the projected growth of the economy and disposable incomes over the next decade and the size of the working population. The Chinese cities in the top five also include the north eastern city of Tianjin in third and capital Beijing in fourth spot. According to Hugo Manchin, co-head of global real estate securities, the top global cities will be the drivers of economic growth in their respective countries in the coming decades. “Although it has slowed recently China is still growing more strongly than the rest of the world and we believe it will become a much bigger part of our forecast over time,” he added. While London has slipped down the rankings, Manchin maintains it is one of the firm’s favourite cities as it has more high-skilled workers than New York. ©2016 funds europe

Executive Interviews

INTERVIEW: ‘It is what it is’

Dec 22, 2016

Jeff Conway, regional chief executive for State Street, talks to David Stevenson about regulation and how the firm will handle the challenge of tech disruption.

MASHREQ CAPITAL INTERVIEW: A new direction

Dec 22, 2016

The new chief executive of Mashreq Capital talks to George Mitton about fund launches, management style and why he is the right person for the job.

Roundtables

SEC LENDING ROUNDTABLE: Both a borrower and a lender be

Jan 11, 2017

Industry heavyweights, including agent lenders, discuss issues affecting the securities lending sector such as regulation and the types of collateral being used.

EMERGING MARKETS ROUNDTABLE: The re-emergence

Jan 03, 2017

2016 was the year emerging markets returned to the spotlight, as they regained ground since the 2012 sell-off. Funds Europe asked our panel if this appetite will persist in 2017.