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
ir@noahwm.com
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SOURCE Noah Holdings Limited