Ping An aims for USD100 billion in Next Five Years

Sep 30, 2020 Hubbis

Ping An Asset Management is reportedly looking to reach an AuM of USD100 billion in the next three to five years, banking on the strong economic outlook and higher returns to be found in China to fuel the growth of assets under management.

The USD100 billion target includes offshore client investments into China and Chinese client investments abroad, primarily made up of clients outside of Ping An Group, according to an article by Finews Asia.

Chi Kit Chai, Head of Capital Market and Chief Investment Officer, Ping An Asset Management (Hong Kong), said: “China stands out in this zero-rate world,” without disclosing any figures on the firm’s current assets.

In addition to Ping An’s long-term focus on helping domestic Chinese investors reach global markets, it now also wants to “bring international clients into China,” according to the Finews Asia article.

In addition to higher yields and a stronger expected post-pandemic recovery from the Chinese market, Ping An will also leverage its operations in banking, insurance and technology to competitively source “quality deals.”

“Everybody needs to up the game. At this point, entrenched players have the advantage,” said Chai.

According to Chai, global investor interest in Chinese assets is increasing across stocks, bonds and alternatives such as real estate and private equity, reports Finews Asia.