SHANGHAI, March 18, 2014 /PRNewswire/ -- Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH), a leading wealth management service provider focusing on distributing wealth management products to the high net worth population in China, today announced that three Noah entities successfully completed the registration of private security investment, equity investment and venture capital investment business with Asset Management Association of China ("AMAC") and each received a private investment fund manager registration certificate from AMAC.
The three entities are Gopher Asset Management Co., Ltd., Tianjin Gopher Asset Management Co., Ltd. and Gopher Nobel (Shanghai) Asset Management Co., Ltd. Such registration with AMAC allows these Noah entities to independently conduct private security investment businesses without having to involve third parties. Noah operates its comprehensive asset management platform mainly through the three entities to provide asset allocation and management services to high net worth individuals, families and institutional clients. As of December 31, 2013, total accumulated asset under management was RMB31 billion.
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.
Ms. Jingbo Wang, Co-founder, Chairwoman of the Board of Directors and Chief Executive Officer, commented, "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." Ms. Wang continued, "We expect the private investment industry to enter into a rapid growing stage and we believe we are well-positioned to take advantage of this market opportunity."
ABOUT NOAH HOLDINGS LIMITED
Noah Holdings Limited is a leading wealth management service provider focusing on distributing wealth management products to the high net worth population in China. Noah distributes wealth management products, including primarily fixed income products, private equity funds, private securities investment funds and mutual funds. Noah is also equipped with asset management services capability, managing its own fund of funds and real estate fund products. With 569 relationship managers in 57 branch offices as of December 31, 2013, Noah's total coverage network encompasses China's most economically developed regions where the high net worth population is concentrated. Through this extensive coverage network, product sophistication, and client knowledge, the Company caters to the wealth management needs of China's high net worth population. For more information please visit the Company's website at http://www.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, 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 Securities and Exchange Commission, including its annual report on Form 20-F. Noah does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law. All information provided in this press release and in the attachments is as of the date of this press release, and Noah undertakes no duty to update such information, except as required under applicable law.
