SHANGHAI, Nov. 7, 2016 /PRNewswire/ -- Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH), a leading wealth and asset management service provider with a focus on global services for high net worth individuals and enterprises in China, is pleased to announce that Gopher Asset Management ("Gopher"), the asset management subsidiary of Noah, is the winner of three annual awards in the 2016 China Private Equity Funds Rankings. Gopher was ranked No.1 in the Best Fund of Funds, the Most Active Fund of Funds and the Best Market-Oriented Fund of Funds categories.
Gopher was founded in March 2010 and has become one of the leading alternative asset managers in China, specializing in fund-of-funds management in the private equity, real estate, hedge funds, credit products and family office businesses. As of June 30, 2016, Gopher's total assets under management, or AUM, reached RMB101.2 billion.
The China Private Equity Funds Rankings are one of the most prestigious and comprehensive of their kind for the private equity industry in China. The awards recognize excellence in investment track records, team-building efforts, fund-raising initiatives and risk management capabilities among the private equity funds and private equity funds of funds in China. The candidates for each award are recommended and scored by the members of the China Fund of Funds Association and the screening and ranking process is under the full supervision of a government body within the Ministry of Science and Technology, which supports innovative industries in China.
"Asset management is a business that is of extremely high strategic importance to Noah. We are very grateful for the recognitions and will continue to build our strength for sustainable growth," commented Mr. Kenny Lam, Group President of Noah.
"As one of China's leading private equity funds of funds, we are serving the rapidly rising needs of high net worth clients and institutional investors. This is a fast growing sector and we are strengthening our capabilities to ensure we can continue to be a pioneer and a leader in the industry," added Mr. Zhe Yin, Co-founder of Noah and Chief Executive Officer of Gopher.
ABOUT NOAH HOLDINGS LIMITED
Founded in 2005, Noah Holdings Limited (NYSE: NOAH) is a leading wealth and asset management services provider with a focus on global services for high net worth individuals and enterprises in China. In the second quarter of 2016, Noah distributed over RMB27.7 billion (US$4.2 billion) of wealth management products. As of June 30, 2016, Noah had assets under management of RMB101.2 billion (US$15.2 billion).
Noah distributes a wide array of wealth management products, including fixed income products, private equity fund products, mutual fund products and insurance products. Noah also develops and manages financial products denominated in both domestic (RMB) and foreign currencies, including real estate funds and real estate funds of funds, private equity funds of funds, secondary market equity funds of funds and fixed income funds of funds through Gopher Asset Management. In addition, in 2014, the Company launched a proprietary internet finance platform to provide financial products and services to aspiring high net worth individuals and enterprise clients in China. Noah delivers customized financial solutions to clients through a network of 1,093 relationship managers across 175 branches and sub-branches in 68 cities in China, and serves the international investment needs of its clients through a wholly owned subsidiary in Hong Kong. The Company's wealth management business had 114,870 registered clients as of June 30, 2016.
For more information please visit Noah at ir.noahwm.com.
SAFE HARBOR STATEMENT
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Among other things, quotations from management in this announcement, as well as Noah's strategic and operational plans, contain forward-looking statements. Noah may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Noah's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause Noah's actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: its goals and strategies; its future business development, financial condition and results of operations; the expected growth of the wealth management market in China and internationally; the expansion of its business into the United States; its expectations regarding demand for and market acceptance of the products it distributes; its expectations regarding keeping and strengthening its relationships with key clients; relevant government policies and regulations relating to its industry; its ability to attract and retain qualified employees; its ability to stay abreast of market trends and technological advances; its plans to invest in research and development to enhance its product choices and service offerings; competition in its industry in China and internationally; general economic and business conditions in China; and its ability to effectively protect its intellectual property rights and not to infringe on the intellectual property rights of others. Further information regarding these and other risks is included in Noah's filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 20-F. All information provided in this press release and in the attachments is as of the date of this press release, and Noah does not undertake any obligation to update any such information, including forward-looking statements, as a result of new information, future events or otherwise, except as required under the applicable law.
Noah Holdings Limited
Noah Holdings Limited
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SOURCE Noah Holdings Limited