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

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

Jun 26, 2024, 06:08 ET

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.