SHANGHAI, July 8, 2015 /PRNewswire/ -- Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH), a leading wealth management services provider with a focus on global wealth investment and asset allocation services for high net worth individuals and enterprises in China, today announced its cooperation with McKinley Capital Management, LLC ("McKinley Capital") and Professor Raphael Amit of the Wharton School regarding global family office solutions. This cooperation will enable Noah to build a market-leading family office solution with global asset allocation capabilities for its clients, and is one of several key initiatives that Noah is taking to augment its global service platform.
Noah has been serving China's high net worth individuals for over a decade and is building a comprehensive global platform to address the changing needs of these clients. Noah began its family office services earlier this year and has witnessed rapidly rising demand -- ranging from domestic discretionary management to active global asset allocation.
Ms. Jingbo Wang, Noah's co-founder, Chairman and CEO, said, "We aim to serve the wealth management needs of Chinese clients globally. This cooperation is a natural next step for us in building our global capabilities."
Kenny Lam, Group President of Noah, said, "This cooperation is one of several core initiatives we are taking this year. Global asset allocation for our clients is an irreversible trend. We are rapidly taking steps to ensure we have the best investment solutions around the world for our family office clients."
Professor Raphael Amit of the Wharton School of the University of Pennsylvania is the Co-founder and Chairman of the Wharton Global Family Alliance and is one of the world's leading experts on key family issues such as governance, wealth management and philanthropy. He has worked closely with Noah and McKinley Capital before and will continue to add valuable insight and guidance for this cooperation.
Rob Gillam, Chief Investment Officer of McKinley Capital and board member of the Wharton Global Family Alliance, said, "Noah is a leader in wealth management in China. We see this collaboration as one that combines the best of two leading firms -- one with an extensive client base and one with best-in-class family office solutions. We are very excited and are committed to the success of this cooperation."
McKinley Capital is a leading investment firm in the United States, led and owned by the Gillam family of Alaska and its employees. It has over 25 years of experience in managing the assets of global institutions and ultra-high net worth families. It owns market-leading proprietary technology that creates best-of-breed, tailored investment solutions for specific risk profiles of high net worth business owners and clients. McKinley Capital is supported by a deep team of investment professionals and leading academics including Nobel Prize winner Dr. Harry Markowitz, best known for his work in modern portfolio theory.
ABOUT NOAH HOLDINGS LIMITED
Founded in 2005, Noah Holdings Limited (NYSE: NOAH) is a leading wealth management services provider with a focus on global wealth investment and asset allocation services for high net worth individuals and enterprises in China. From its founding to March 31, 2015, Noah distributed over US$33.0 billion of wealth management products. As of March 31, 2015, Noah had assets under management of US$9.4 billion.
Noah distributes a wide array of wealth management products, including fixed income products, private equity fund products, mutual fund products and insurance products. Noah also manages private equity funds, real estate funds, hedge funds, and other assets through Gopher Asset Management. In addition, in the second quarter of 2014, the Company launched a proprietary internet finance platform to provide financial products and services to white-collar professionals and enterprise clients in China. Noah delivers customized financial solutions to clients through a network of 834 relationship managers across 112 branches and sub-branches in 64 cities in China, and serves the international investment needs of its clients through a wholly owned subsidiary in Hong Kong. The Company's wealth management business had 74,895 registered clients as of March 31, 2015.
Noah has won numerous awards, including Hurun Report's Popular Independent Wealth Management Institution award in 2013 and 2014, Forbes' Best Potential Business in China award in 2015, Deloitte's Technology Fast 500 Asia Pacific award in 2013, and STCN's Best Third Party Wealth Management Company award in 2014.
For more information please visit Noah at www.noahwm.com.
SAFE HARBOR STATEMENT
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Among other things, the success of the cooperation arrangement with McKinley Capital and Professor Amit and quotations from management in this announcement, as well as Noah's strategic and operational plans, contain forward-looking statements. Noah may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Noah's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: its goals and strategies; its future business development, financial condition and results of operations; the expected growth of the wealth management market in China and internationally; its expectations regarding demand for and market acceptance of the products it distributes; its expectations regarding keeping and strengthening its relationships with key clients; relevant government policies and regulations relating to its industry; its ability to attract and retain quality employees; its ability to stay abreast of market trends and technological advances; its plans to invest in research and development to enhance its product choices and service offerings; competition in its industry in China and internationally; general economic and business conditions in China; and its ability to effectively protect its intellectual property rights and not infringe on the intellectual property rights of others. Further information regarding these and other risks is included in Noah's filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 20-F. All information provided in this press release is as of the date of this press release, and Noah does not undertake any obligation to update any such information, including forward-looking statements, as a result of new information, future events or otherwise, except as required under applicable law.
Contacts: Noah Holdings Limited Luyao Ye Tel: +86 21-3860-2308 email@example.com
SOURCE Noah Holdings Limited