(Hong Kong, Shanghai, 18 November 2020) Ping An Insurance (Group) Company of China, Ltd. (“Ping An” or the “Group”, HKEX: 2318; SSE: 601318) is pleased to announce that Ping An Asset Management Co., Ltd. (PAAMC) has been ranked No.53 in the world and No.1 in China on the Top 500 Asset Managers 2020 list from Investment & Pensions Europe (IPE). PAAMC has EUR418 billion in assets under management. This is the highest ranking ever recorded by a Chinese asset manager since the inception of the list.

IPE is a London-headquartered international media company focusing on institutional investors and pension management, affiliated to media group IPE International Publishers. Each year, IPE, as a professional evaluator, releases authoritative lists, including the Top 500 Asset Managers and trend reports based on publicly available market data. The lists and reports are key barometers of global asset management.

There are four Mainland China-based asset managers on the Top 500 Asset Managers 2020 list, with PAAMC being the only insurance asset manager on the list. As of June 30, 2020, PAAMC had RMB3.5 trillion in assets under management, including about RMB1 trillion from external clients, maintaining No.1 position in insurance asset management industry of China.

Going forward, PAAMC will learn from other world-leading asset managers on the list, take advantage of its domestic experience and platforms as a top China-based asset manager, and improve its capabilities and services in line with international standards. PAAMC will seize opportunities bought by China’s financial opening-up and compete globally to become a world-leading technology-powered asset manager.