SINGAPORE, June 24, 2021 /PRNewswire/ -- Lu International (Singapore), a subsidiary of Lufax Holding (NYSE: LU), officially launched two fund products to offer investment opportunities into the China market today.
The two funds are issued jointly by Ping An of China Asset Management (Hong Kong) Company Limited ("PAAMC HK").
The funds are PAAMC HK's first registered product in Singapore and marks its entry into the market.
The funds' investment strategy builds on Ping An's 20+ year track record of successful investment in China equity and fixed income markets. The funds use PAAMC HK's systematic, quantitative and scientific investment methodologies, utilizing Lu International's award-winning wealth management platform to offer global investors investment opportunities in China with flexibility and efficiency.
Southeast Asia: A huge market to discover
Southeast Asia's online financial markets boast extensive wealth management opportunities.
According to a study jointly undertaken by Bain & Company, Google and Temasek, the region's internet economy continues to increase and is expected to reach $300 billion by 2025.
However, more than 75 percent of retail users in the region still do not have access to adequate financing and wealth management services.
After years of growth and accumulation of operational and technological advantages in financial technology, China's FinTech practitioners are well positioned to tackle these challenges as some of its best players eye overseas opportunities.
Lu International (Singapore) and PAAMC HK Partnership
Commenting on the announcement, Joanna (Juan) Tang, Chief Executive Officer of Lu International, said, "Singapore, in its role as one of the world's wealth management hubs, takes a strategically important position in the financial and technology market.
"The partnership with PAAMC HK enriches Lu International's product lineup and brings more comprehensive and premium global asset allocation services to Lu International's investors from all around the world."
Chi Kit Chai, Head of Capital Markets and Chief Investment Officer of PAAMC HK, said, "As a major global financial center, Singapore has always been the core and most active investment market in Southeast Asia. We are delighted to partner with Lu International leveraging their platform to launch our China fund products in Singapore.
This partnership will further strengthen our brand presence in the Southeast Asia. We also look forward to offering more China investment opportunities to investors in the region in the near future."
About Lu International
Lu International (Singapore) Financial Asset Exchange Pte. Ltd.("LUI") (Co. Reg. No. 201702479G) holds a capital markets services license issued by the Monetary Authority of Singapore under the Securities and Futures Act (Cap. 289 of Singapore) ("SFA") in respect of its business in the SFA regulated activities of dealing in securities, fund management and providing custodial services for securities, to eligible customers.
Lu Global is an online mobile wealth management and investment platform operated by LUI and headquartered in Singapore. It offers 24/7 online access to a wide range of high-quality investments and the opportunity to invest in small amounts easily and with low commitment periods to provide maximum flexibility while benefitting from attractive returns.
LUI is a subsidiary of Lufax Holding ("Lufax"), a leading technology-empowered personal financial services platform in China. For more information, please visit www.lu-global.com.
About PAAMC HK
Ping An of China Asset Management (Hong Kong) Co., Ltd. was established in 2006. It is a direct subsidiary of China Ping An Insurance Overseas (Holdings) Limited and a wholly-owned subsidiary of Ping An Insurance (Group) Company of China, Ltd. (2318.HK and 601318.SH). It is licensed by the Securities and Futures Commission of Hong Kong to conduct Type 1 (Dealing in Securities), Type 4 (Securities Consultation) and Type 9 (Asset Management) regulated activities. With strong capabilities in investment research and asset management, PAAMC HK is a leading provider of global investment management solutions in equities, fixed income, funds of hedge funds, AI-quantitative investments, ETFs, structured products and alternative assets. For more information, please visit asset.pingan.com.hk.
For more information, please contact:
Ti Yao
Lu International (Singapore)
Phone: +65-8510 1305
Email: tiyao353@lu.com
