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Friday, 8 March 2024, 19:59 HKT/SGT
Noah Holdings Wins 'Best Independent Wealth Manager - China' Award for Seventh Year in a Row

SHANGHAI, Mar 8, 2024 - (ACN Newswire) - Noah Holdings Limited (the "Company," or "Noah") (NYSE: NOAH and HKEX: 6686), a leading wealth management service provider in China offering comprehensive global investment and asset allocation advisory services primarily for high-net-worth investors, is delighted to report that it was awarded "Best Independent Wealth Manager - China" for the seventh year in a row at the Asian Private Banker Awards for Distinction 2023.

The Asian Private Banker Awards for Distinction, a highly respected accolade in the private banking and wealth management sphere across Asia-Pacific, serves as a benchmark for excellence. Noah's win at the awards ceremony, hosted by Asian Private Banker, is a testament to the Company's exceptional performance, wealth management expertise, and an affirmation of Noah's operational stability, efficient management, and forward-thinking strategy.

Established in 2009, Asian Private Banker is a resource for news, content, and events in the Asia-Pacific region. The organization's annual APB Summit in Hong Kong and Singapore caters to a wide audience within the private wealth management community.

"Chinese wealth manager Noah Holdings continues its offshore expansion, tapping Chinese clients who wants to go global. As part of its strategic layout, Noah Holdings was listed on the Hong Kong Stock Exchange, becoming the first Chinese independent wealth management institution to achieve dual listing of Hong Kong and US shares." Said by the judging panels from Asian Private Banker "In addition, with a sizable number of relationship manager in its HK and Singapore offices and recent strategic cooperation agreement with Sun Life allowed Noah bring better and more comprehensive wealth inheritance services to its clients."

Noah's wealth management business is growing rapidly as Mandarin-speaking high-net-worth individuals increasingly seek asset liquidity, security and global diversification. In the third quarter of 2023, the Company achieved impressive growth, with net revenues increasing 9.6% from a year earlier, driven primarily by its wealth management business. Revenues from that segment increased by 17.8% year-over-year, while those from one-time commission fees increased 115.5%. These results highlighted the Company's strong performance and the trust that clients place in it as private wealth manager.

Complementing its strong performance, Noah recently released its "2024 CIO Report - Global Edition", offering valuable insights into macroeconomic trends and strategic recommendations. The report underscores the importance of investing in megatrends and accelerating global asset allocation, emphasizing the need for wealth managers to deploy potentially beneficial assets and risk-hedging tools in preparation for an anticipated shift in policy interest rates.

More specifically, the CIO Report highlights the need for the use of fundamental principles, urges the use of Noah's global asset allocation solution, emphasizes investments in rental departments and mature infrastructure, recognizes the proficiency of hedge funds to generate Alpha amid volatile markets, and stresses the need to capitalize on deployment opportunities presented at the end of rate-hike cycles.

Mr. Yin Zhe, Co-Founder and CEO of Noah, commented "2023 was a tremendous year for Noah and we are honored to receive the "Best Independent Wealth Manager - China" award for the seventh time. The award underscores our influence and leadership in the wealth management industry and is a testament to our understanding of clients' needs and commitment to industry compliance. Despite prevailing economic headwinds, we remain dedicated to empowering our clients so they can broaden their global investment horizons while seizing opportunities in diverse markets. Since day one, Noah has adhered strictly to financial industry norms to establish itself as a leading and reputable player in the industry. Looking ahead, Noah will continue to meet the diverse needs of its clients with even higher standards and enhanced services."

Topic: Press release summary Sectors: Daily Finance
From the Asia Corporate News Network

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