Lu International to Drive Overseas Investment into China Market with new China Focused Funds
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.
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 USD 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.
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."