Ping An Asset Management Up to No. 33 in Top 500 Asset Managers 2024

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Ping An Asset Management Co. (PAAMC) has risen to 33rd place in the Top 500 Asset Managers 2024 list by Investment & Pensions Europe (IPE), marking its highest position yet. The company, founded in 2005, is a subsidiary of Ping An Insurance and ranks 3rd in Asia. This achievement signifies PAAMC's continued growth and prominence, with assets under management (AUM) reaching RMB5.03 trillion as of December 31, 2023. The company recently joined the UN-supported Principles for Responsible Investment (PRI) as an investment manager, underscoring its commitment to sustainable investing. PAAMC's rise in ranking reflects the broader growth in China's asset management industry, which now includes 52 companies with a collective AUM of RMB72.4 trillion. This milestone highlights the increasing recognition and potential for cross-border cooperation between Chinese and international asset managers.

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.

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SOURCE Ping An Insurance (Group) Company of China, Ltd.

FAQ

What recent ranking did Ping An Asset Management achieve in 2024?

Ping An Asset Management was ranked 33rd in the Top 500 Asset Managers 2024 list by Investment & Pensions Europe.

How significant is PNGAY’s ranking in Asia?

Ping An Asset Management is ranked 3rd in Asia in the Top 500 Asset Managers 2024 list.

What were Ping An Asset Management's assets under management at the end of 2023?

As of December 31, 2023, Ping An Asset Management's assets under management amounted to RMB5.03 trillion.

What is the importance of Ping An Asset Management joining the Principles for Responsible Investment?

Joining the Principles for Responsible Investment highlights Ping An Asset Management's commitment to sustainable and responsible investing practices.

How many Chinese companies are listed in IPE's Top 500 Asset Managers 2024?

There are 52 Chinese asset management companies included in IPE's Top 500 Asset Managers 2024.

What is the total AUM of Chinese companies in the 2024 IPE ranking?

The total assets under management of Chinese companies in the 2024 IPE ranking amount to RMB72.4 trillion.

What role does Ping An Group play in Ping An Asset Management's operations?

Ping An Group entrusts its insurance funds to Ping An Asset Management, which also provides third-party asset management services.

What is the significance of Ping An Asset Management's rise in the IPE ranking?

The rise to 33rd place in IPE's Top 500 Asset Managers list reflects Ping An Asset Management's growth and the broader expansion of China's asset management industry.