Ping An Asset Management No.36 in Top 500 Asset Managers 2023

HONG KONG and SHANGHAI, July 3, 2023 /PRNewswire/ -- 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.

About Ping An Group

Ping An Insurance (Group) Company of China, Ltd. ("Ping An" or the "Group") strives to become a world-leading integrated finance and healthcare services provider. With nearly 229 million retail customers, Ping An is one of the largest financial services companies in the world. Under the technology-driven "integrated finance + healthcare" strategy, Ping An provides professional "financial advisory, family doctor, and elderlycare concierge" services. Ping An advances intelligent digital transformation and employs technologies to improve the quality and efficiency of its financial businesses and enhance risk management. The Group is listed on the stock exchanges in Hong Kong and Shanghai. As of the end of 2022, Ping An had RMB11,137,168 million in total assets. The Group ranked 16th in the Forbes Global 2000 list in 2023 and ranked 25th in the Fortune Global 500 list in 2022.

For more information, please visit www.group.pingan.com and follow us on LinkedIn - PING AN.

About Ping An Asset Management

Ping An Asset Management Co., Ltd ("PAAMC") was among the first insurance asset management companies approved by China Banking and Insurance Regulatory Commission (CBIRC) and was established in May 2005. It is headquartered in Shanghai with registered capital of RMB1.5 billion. As of the end of December 2022, PAAMC had RMB4,370 billion in assets under management, covering a wide range of investment areas, including bonds, equities, funds, and direct investments, with capabilities in cross-market asset allocation and investment in a comprehensive product variety.

As a key part of Ping An Group's investment segment, PAAMC not only manages the Group's insurance funds, but also provides comprehensive third-party asset management services. Currently, PAAMC offers diversified one-stop investment management solutions to both domestic and overseas clients.

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SOURCE Ping An Insurance (Group) Company of China, Ltd.