SHANGHAI, May 7, 2020 /PRNewswire/ -- Noah Holdings
Limited (NYSE: NOAH, Noah), a leading wealth and asset
management service provider in China with a focus on global investment and
asset allocation services for high net worth individuals and
enterprises, has officially become a signatory of the UN-supported
Principles for Responsible Investment (PRI) investor initiative on
April 28, 2020. Noah's asset
management business, Gopher Asset Management (Gopher), a
leading alternative multi-asset manager in China with overseas offices in Hong Kong, United
States and Canada, also
joined PRI as a signatory on the same day. Noah is the first
independent wealth management firm from China to participate in this initiative.
The participation of Noah and Gopher aims to promote responsible
investment from both wealth management and asset management end, to
promote an environmental, social and governance (ESG) platform that
practices sustainable development, and delivers long-term social
momentum. Both parties are signed as service providers and asset
managers at the same time.
This year marks the 15th anniversary of Noah's
independent operation, the 10th anniversary of its
listing on the NYSE, and the 10th anniversary of
Gopher's establishment. Membership of the PRI marks Noah's solid
step towards sustainable development and responsible investment in
line with international standards. As the leading brand of
China's market-oriented Fund of
Funds(FoF), joining PRI urges Gopher to apply the concept of
responsible investment to its investment management and
decision-making process, to improve its risk management, and strive
to create long-term and sustainable returns for investors.
The PRI, initiated by former UN Secretary General Kofi Annan in 2005 and officially launched on
the New York Stock Exchange in 2006, is an international network of
institutional investors, asset managers and service providers
dedicated to building a global financial system focused on
responsible investment.
Responsible investment is defined by the PRI as the strategy and
practice of integrating ESG factors into investment decision-making
and positive ownership. The PRI has built a sustainable global
financial system that consists of 3,038 signatories worldwide,
representing more than US$89 trillion
in assets.
"We are pleased to welcome both Noah and Gopher to become the
signatories of PRI in China, and
to jointly practice the six principles from wealth management's
sustainable development services to asset management's
responsibility investment," said Matthew
McAdam, director of PRI Asia Pacific. "Being PRI signatories
shows that Noah and Gopher have a serious commitment to promoting
sustainable development and responsible investment in all aspects
of their business, including wealth management, asset management
and global integrated financial services."
Regarding Noah and Gopher both joining PRI, Ms. Frances Chang, angel investor of Noah, and general manager
of Noah Upright, said: "by joining
the PRI, Noah is determined to become the benchmark for
China's independent wealth
management industry to practice ESG concept. Noah and Gopher
continuously explore the responsible investment mode that can cover
the business scope of the comprehensive financial service platform,
and cooperate with partners and counterparties. We are committed to
the implementation of sustainable development practice, to become a
global sustainable development company that can lead the industry
in China while complying with ESG
standards internationally. "
Mr. Zhe Yin, co-founder of Noah,
Chairman and CEO of Gopher, said: "The main goal of responsible
investment is to grow with companies that attach importance to
sustainable environmental resources, fully undertake social
responsibilities and have good governance structure. More and more
financial data prove that responsible investment can not only
obtain good investment income from long-term investment, but also
promote the company to better fulfill its social responsibility, as
well as help investment institutions to identify and reduce risks
in specific investment. It is incumbent for Gopher to practice
responsible investment. "
Since 2014, Noah has been spontaneously releasing the annual
"Noah Sustainability Report" to global investors. As a
representative of China's wealth
management industry, Noah's ESG development attracted attention
from the outside world. In 2018, MSCI included Noah's shares into
MSCI China Index and MSCI overseas China standard index.
Last month, when releasing its 2019 full-year results, the
Company also announced that "responsible investment has become a
global trend. In China, regulators
and institutions are also actively encouraging and adopting such
approach. In 2019, we have implemented ESG into our group strategy
development and corporate governance. We will continue pursuing
sustainable growth in ESG in 2020."
In 2019, Gopher's Redwoods fund launched its ESG responsible
investment report, the first time for a Chinese asset management
company to publish such content to international investors.
Ms. Frances Chang added that as a
financial institution, Noah is a practitioner of long-term value
investment concept and sustainable development. The Company has
established a strategic consensus to take a long-term view, support
unified actions, and implement the concept of responsible
investment in the long run on the basis of solving the practical
problems posed by the current epidemic.
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SOURCE Noah Holdings Limited