SHANGHAI, March 18, 2014 /PRNewswire/ -- Noah Holdings
Limited ("Noah" or the "Company") (NYSE: NOAH), a leading wealth
management service provider focusing on distributing wealth
management products to the high net worth population in
China, today announced that three
Noah entities successfully completed the registration of private
security investment, equity investment and venture capital
investment business with Asset Management Association of
China ("AMAC") and each received a
private investment fund manager registration certificate from
AMAC.
The three entities are Gopher Asset Management Co., Ltd.,
Tianjin Gopher Asset Management Co., Ltd. and Gopher Nobel
(Shanghai) Asset Management Co.,
Ltd. Such registration with AMAC allows these Noah entities to
independently conduct private security investment businesses
without having to involve third parties. Noah operates its
comprehensive asset management platform mainly through the three
entities to provide asset allocation and management services to
high net worth individuals, families and institutional clients. As
of December 31, 2013, total
accumulated asset under management was RMB31
billion.
Relevant PRC laws require independent fund managers to complete
the registration with AMAC before they can independently launch
private securities investment fund. These three Noah entities are
among the first 50 PRC entities to receive the private investment
fund manager registration certificate from AMAC.
Ms. Jingbo Wang, Co-founder,
Chairwoman of the Board of Directors and Chief Executive Officer,
commented, "We are very pleased that three Noah entities were
included in the first 50 PRC entities to receive the private
investment fund manager registration certificate from AMAC. This
allows us to further develop our asset management business and
enhance our core competitive advantage." Ms. Wang continued, "We
expect the private investment industry to enter into a rapid
growing stage and we believe we are well-positioned to take
advantage of this market opportunity."
ABOUT NOAH HOLDINGS LIMITED
Noah Holdings Limited is a leading wealth management service
provider focusing on distributing wealth management products to the
high net worth population in China. Noah distributes wealth management
products, including primarily fixed income products, private equity
funds, private securities investment funds and mutual funds. Noah
is also equipped with asset management services capability,
managing its own fund of funds and real estate fund products. With
569 relationship managers in 57 branch offices as of December 31, 2013, Noah's total coverage network
encompasses China's most
economically developed regions where the high net worth population
is concentrated. Through this extensive coverage network, product
sophistication, and client knowledge, the Company caters to the
wealth management needs of China's
high net worth population. For more information please visit the
Company's website at http://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, 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 Securities and Exchange
Commission, including its annual report on Form 20-F. Noah does not
undertake any obligation to update any forward-looking statement as
a result of new information, future events or otherwise, except as
required under applicable law. All information provided in this
press release and in the attachments is as of the date of this
press release, and Noah undertakes no duty to update such
information, except as required under applicable law.
SOURCE Noah Holdings Limited