(Hong Kong, Shanghai, July 3, 2023) – Ping An Asset Management Co., Ltd. (PAAMC), a subsidiary of Ping An Insurance (Group) Company of China, Ltd. (“Ping An” or the “Group”, HKEx:2318; SSE:601318) ranked 36^th in the world in the Top 500 Asset Managers 2023 list from Investment & Pensions Europe (IPE). PAAMC, with RMB4.37 trillion in assets under management, moved up nine places from last year on the global list, and ranked No.2 among asset managers in China.

This is the fourth consecutive year PAAMC has been on the list, and third consecutive year in the top 50. As a leading insurance asset manager in China, PAAMC maintains the philosophy of value investing and long-term investing, providing asset management services and one-stop solutions for insurance funds as well as domestic and international institutional investors. As of the end of 2022, PAAMC has RMB4.37 trillion assets under management, and RMB510 billion assets under management from external clients.

IPE is a London-headquartered international media company focusing on institutional investors and pension management. Each year, IPE releases authoritative lists, including the Top 500 Asset Managers, based on publicly available market data. The lists have earned a strong reputation among global institutional investors and pension fund managers. The top 10 institutions on this year’s list include BlackRock, Vanguard Asset Management, Fidelity Investments, State Street Global Advisors, J.P. Morgan Asset Management, Goldman Sachs Asset Management International, Capital Group, Amundi, PIMCO, and BNY Mellon. More than 40 Chinese companies in the asset management industry, including China Life Asset Management and Taikang Asset Management, are included in this year's ranking.

PAAMC will continue to uphold its customer-centric approach and commitment to doing the right things in the long term. It remains focused on long-term robust development, using its advantages as an insurance asset manager to seize development opportunities in China's asset management industry. It benchmarks itself against top international asset management companies and aims to become the leader in China's insurance asset management industry, an enduring investor in China's capital market, and a facilitator of the development of the real economy.