Ping An Asset Management Up to No. 33 in Top 500 Asset Managers 2024
HONG KONG and SHANGHAI, June 26, 2024 /PRNewswire/ -- Ping An Asset Management Co., Ltd. (PAAMC) is ranked 33rd in the world in Top 500 Asset Managers 2024 list from Investment & Pensions Europe (IPE), up three spots from last year. It is ranked number 3 in Asia. PAAMC, established in 2005, is a subsidiary of Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An", the "Company" or the "Group", HKEX: 2318 / 82318; SSE: 601318).
This is the fifth consecutive year PAAMC has been on the list, and fourth consecutive year in the top 50. Entrusted with Ping An's insurance funds, PAAMC provides comprehensive third-party asset management services and one-stop investment management solutions to domestic and overseas customers. As of December 31, 2023, PAAMC's assets under management (AUM) amounted to RMB5.03 trillion. In 2023, PAAMC became a signatory of the UN-supported Principles for Responsible Investment (PRI) in the Investment Manager category.
Jacqueline Zhang, Deputy General Manager of PAAMC, said: "This ranking not only helps asset owners such as global pension funds to understand Chinese asset management companies and consider asset allocations in the Chinese market, but also opens the door for cross border cooperation between international asset management companies and Chinese companies. As a comprehensive asset management company with both global perspective and local experience, PAAMC will continue to benchmark itself against top international standards, provide professional and high-quality asset management solutions to customers and partners around the world, and contribute to the long-term prosperity and development of China's capital market."
There are 52 Chinese asset management companies included in this year's IPE ranking, with a total AUM of RMB72.4 trillion as of the end of 2023. The increasing number of Chinese companies and AUM show the strong growth of China's asset management industry.
IPE is a London-headquartered international media company focusing on institutional investors and pension management. It has earned a strong reputation among global institutional investors and pension fund managers. Each year, IPE assesses insurance, asset management, wealth management subsidiaries and fund management companies around the world and issues reports based on research and publicly available market data. Their reports are seen as the benchmark of the global asset management industry.
About Ping An Group
Ping An Insurance (Group) Company of China, Ltd. (HKEx:2318 / 82318; SSE:601318) is one of the largest financial services companies in the world. It strives to become a world-leading provider of integrated finance, health and senior care services, Under the technology-driven "integrated finance + health and senior care" strategy, the Group provides professional "financial advisory, family doctor, and senior care concierge" services to its 234 million retail customers. Ping An advances intelligent digital transformation and employs technologies to improve financial businesses' quality and efficiency and enhance risk management. The Group is listed on the stock exchanges in Hong Kong and Shanghai. As of the end of 2023, Ping An had RMB11,583,417 million in total assets. The Group ranked 29th in the Forbes Global 2000 list in 2024 and 33rd in the Fortune Global 500 list in 2023.
For more information, please visit www.group.pingan.com and follow us on LinkedIn - PING AN.
About Ping An Asset Management
Ping An Asset Management Co., Ltd ("PAAMC"), established in 2005, was among the first insurance asset management companies approved by the National Financial Regulatory Administration (formerly known as China Banking and Insurance Regulatory Commission) at that time. It is headquartered in Shanghai with registered capital of RMB1.5 billion. PAAMC not only manages Ping An Group's insurance funds, but also provides comprehensive third-party asset management services. PAAMC offers diversified one-stop investment management solutions to both domestic and overseas clients. In 2023, PAAMC became a signatory of the Principles for Responsible Investment (PRI) in the Investment Manager category. As of the end of December 2023, PAAMC had RMB5.03 trillion in assets under management, including stocks, bonds, funds, multi-asset allocation, debt and equity stakes on open and non-open capital markets as well as money markets. It has capabilities in cross-market asset allocation and full-spectrum asset investment.
SOURCE Ping An Insurance (Group) Company of China, Ltd.
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