Three Noah entities complete AMAC registration
Noah Holdings Limited has completed the registration of its private security investment, equity investment and venture capital investment businesses with the Asset Management Association of China (AMAC).
Each has been granted a private investment fund manager registration certificate from AMAC.
The three entities are Gopher Asset Management, Tianjin Gopher Asset Management and Gopher Nobel (Shanghai) Asset Management.
Registration with AMAC allows these Noah entities to independently conduct private security investment businesses without having to involve third parties.
Noah provides asset allocation and management services to high net worth individuals, families and institutional clients. As of 31 December 2013, total accumulated asset under management was RMB31bn.
Relevant PRC laws require independent fund managers to complete the registration with AMAC before they can independently launch private securities investment fund. These three Noah entities are among the first 50 PRC entities to receive the private investment fund manager registration certificate from AMAC.
Jingbo Wang, co-founder, chairwoman of the board of directors and chief executive officer, says: "We are very pleased that three Noah entities were included in the first 50 PRC entities to receive the private investment fund manager registration certificate from AMAC. This allows us to further develop our asset management business and enhance our core competitive advantage."
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