Ping An's Unit Receives a License to Manage Assets in Hong Kong
HONG KONG--(BUSINESS WIRE)--The Hong Kong Securities and Futures Commission has granted Ping An of China Asset Management (Hong Kong) Company Limited ("Ping An Asset Management (Hong Kong)") a license to conduct asset management business in Hong Kong.
With the granting of the license for a Type 9 regulated activity on March 1, 2007, Ping An Asset Management (Hong Kong) will be able to provide equity, bond and other investment portfolio management services for all subsidiaries, onshore and offshore units of Ping An Insurance (Group) Company of China Ltd ("Ping An"; HKSE:2318; SSE:601318).
"The asset management license in Hong Kong is a great kick-off for investing in foreign currency securities by the Ping An Group," said John Pearce, Ping An's Senior Vice President and Chief Investment Officer. "We plan to put in place a world-class investment management platform at Ping An Asset Management (Hong Kong), building expertise to become a trusted international investing expert for China."
"Ping An will adheres to its investment philosophy of creating sustainable returns through long-term, stable investing and disciplined, professional management by seasoned experts," Mr Pearce added.
Contact:
Ping An Insurance (Group) Company of China, Ltd.
Ms. Alex Xiao
Tel: 86-755-22623452
Fax: 86-755-82414817
Ms. Cathy Hua
Tel: 86-755-22627219
Fax: 86-755-82414817
