Ping An’s overseas investment management arm is aiming for assets under management to reach $100 billion in three to five years, highlighting China’s opening of its markets and its relatively attractive profile for returns.
Ping An Asset Management is banking on higher returns and a stronger economic recovery in China as a driver to fuel asset growth. The $100 billion includes offshore client investments into China and Chinese client investments abroad, primarily made up of clients outside of Ping An Group.
«China stands out in this zero-rate world,» said Chi Kit Chai, head of capital markets and chief investment officer at Ping An Asset Management (Hong Kong), in a «Bloomberg» report, though he did not disclose figures on 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».
«Quality Deals»
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,» as Chai said. «At this point, entrenched players have the advantage.»
According to Chai, global investor interest in Chinese assets is increasing across stocks, bonds and alternatives such as real estate and private equity.
