SHANGHAI, Feb. 12, 2016 /PRNewswire/ -- Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH), a leading wealth management services provider with a focus on global wealth investment and asset allocation services for high net worth individuals and enterprises in China, today commented on the recent volatility in the global capital markets.
As a firm that focuses on long-term value creation, Noah believes that this is an opportune time for the Company to continue to invest in building a stronger platform for the future. "Noah has weathered multiple economic cycles since our founding. Our businesses have always been about helping clients ride through these economic cycles. Our product and investment approaches have been refined and strengthened over the last 12 years with a strong focus on long-term value. In volatile markets such as this one, we continue to be a safe haven for our clients. The current regulatory and market environment presents great opportunities for Noah to consolidate and solidify our leading position. In fact, we were able to gain substantial market share during previous periods of high volatility," commented Ms. Jingbo Wang, Noah's Founder, Chairman and CEO.
"Noah has one of the most robust platforms globally for Chinese high net worth clients. Amidst the current volatile markets, we will continue to build on our momentum and remain focused on growth across our services," said Kenny Lam, Noah's Group President. Noah also reiterated its plan to continue to execute on the USD 50 million repurchase program that was announced on July 8, 2015.
ABOUT NOAH HOLDINGS LIMITED
Founded in 2005, Noah Holdings Limited (NYSE: NOAH) is a leading wealth management services provider with a focus on global wealth investment and asset allocation services for high net worth individuals and enterprises in China. In the third quarter of 2015, Noah distributed over US$4.1 billion of wealth management products. As of September 30, 2015, Noah had assets under management of US$12.1 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 Renminbi and U.S. dollars, covering real estate funds and funds of funds, including private equity funds, real estate funds, hedge funds and fixed income funds through Gopher Asset Management. In addition, in 2014, the Company launched a proprietary internet finance platform to provide financial products and services to white-collar professionals and enterprise clients in China. Noah delivers customized financial solutions to clients through a network of 1,038 relationship managers across 130 branches and sub-branches in 65 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 88,663 registered clients as of September 30, 2015.
Noah has won numerous awards and recognition, including top 5 in Fortune's list of Fastest-Growing Companies in 2015, Forbes' Best Potential Business in China award in 2015, STCN's Best Third Party Wealth Management Company award in 2014, Hurun Report's Popular Independent Wealth Management Institution award in 2013 and 2014, and Deloitte's Technology Fast 500 Asia Pacific award in 2013.
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 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; 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 quality 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 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 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 applicable law.
Noah Holdings Limited
Tel: +86 21 8035 9221
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/noah-holdings-comments-on-market-environment-300219400.html
SOURCE Noah Holdings Limited