Asset Management Business
Ping An conducts its asset management business through companies including Ping An Trust, Ping An Securities, Ping An Financial Leasing and Ping An Asset Management. At the end of December 2021, net profit of the asset management business increased 13.5% year-on-year to RMB13,952 million.
Ping An provides securities brokerage, futures brokerage, investment banking, asset management and financial advisory services through Ping An Securities and its subsidiaries, including Ping An Futures, Ping An Caizhi, Ping An Securities (Hong Kong) and Ping An Pioneer Capital.
Ping An Securities has been transformed into a smart securities service platform under the Group's integrated finance strategy. As of December 31, 2021, it ranked first in the industry by the number of retail customers (more than 20 million) and among the top three securities firms in China by the number of active app users.
Ping An Trust is one of China's top trust companies by financial strength. It focuses on industrial investment and product and financial service trusts, considering the market environment and regulatory guidelines. As of December 31, 2021, total assets held in trust reached RMB461,312 million, in which the investment category expanded 117.7% from the beginning of 2021 to RMB256,750 million.
Other Asset Management Businesses
The other asset management companies include Ping An Financial Leasing, Ping An Asset Management and Ping An Overseas Holdings.
Ping An Financial Leasing has built a presence in 15 industries. It is a market leader in mature business sectors, including energy, metallurgy, education, culture, engineering, construction, manufacturing and processing. It was ranked top three in the industry with revenue exceeding RMB20,000 million, net profit growing 13.4% year-on-year, and total assets of RMB273,954 million at the end of December 2021.
Ping An Asset Management is one of China's largest influential institutional investors. Its assets under management (AUM) amounted to RMB4.05 trillion as of December 31, 2021. It provides asset management services for overseas banks, insurance companies, enterprises, and third-party clients, such as overseas sovereign funds and institutional investors. It is ranked in the top 50 global asset management companies1).
Source: Investment & Pension Europe (IPE)