Noah Holdings And Gopher Asset Management Join PRI To Further Its ESG Practices

SHANGHAI, May 7, 2020 /PRNewswire/ -- Noah Holdings Limited (NYSE: NOAH, Noah), a leading wealth and asset management service provider in China with a focus on global investment and asset allocation services for high net worth individuals and enterprises,...
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SHANGHAI, May 7, 2020 /PRNewswire/ -- Noah Holdings Limited (NYSE: NOAH, Noah), a leading wealth and asset management service provider in China with a focus on global investment and asset allocation services for high net worth individuals and enterprises, has officially become a signatory of the UN-supported Principles for Responsible Investment (PRI) investor initiative on April 28, 2020. Noah's asset management business, Gopher Asset Management (Gopher), a leading alternative multi-asset manager in China with overseas offices in Hong Kong, United States and Canada, also joined PRI as a signatory on the same day. Noah is the first independent wealth management firm from China to participate in this initiative.

The participation of Noah and Gopher aims to promote responsible investment from both wealth management and asset management end, to promote an environmental, social and governance (ESG) platform that practices sustainable development, and delivers long-term social momentum. Both parties are signed as service providers and asset managers at the same time.  

This year marks the 15 th anniversary of Noah's independent operation, the 10 th anniversary of its listing on the NYSE, and the 10 th anniversary of Gopher's establishment. Membership of the PRI marks Noah's solid step towards sustainable development and responsible investment in line with international standards. As the leading brand of China's market-oriented Fund of Funds(FoF), joining PRI urges Gopher to apply the concept of responsible investment to its investment management and decision-making process, to improve its risk management, and strive to create long-term and sustainable returns for investors.

The PRI, initiated by former UN Secretary General Kofi Annan in 2005 and officially launched on the New York Stock Exchange in 2006, is an international network of institutional investors, asset managers and service providers dedicated to building a global financial system focused on responsible investment.

Responsible investment is defined by the PRI as the strategy and practice of integrating ESG factors into investment decision-making and positive ownership. The PRI has built a sustainable global financial system that consists of 3,038 signatories worldwide, representing more than US$89 trillion in assets.

"We are pleased to welcome both Noah and Gopher to become the signatories of PRI in China, and to jointly practice the six principles from wealth management's sustainable development services to asset management's responsibility investment," said Matthew McAdam, director of PRI Asia Pacific. "Being PRI signatories shows that Noah and Gopher have a serious commitment to promoting sustainable development and responsible investment in all aspects of their business, including wealth management, asset management and global integrated financial services."

Regarding Noah and Gopher both joining PRI, Ms. Frances Chang, angelinvestor of Noah, and general manager of Noah Upright, said: "by joining the PRI, Noah is determined to become the benchmark for China's independent wealth management industry to practice ESG concept. Noah and Gopher continuously explore the responsible investment mode that can cover the business scope of the comprehensive financial service platform, and cooperate with partners and counterparties. We are committed to the implementation of sustainable development practice, to become a global sustainable development company that can lead the industry in China while complying with ESG standards internationally. "

Mr. Zhe Yin, co-founder of Noah, Chairman and CEO of Gopher, said: "The main goal of responsible investment is to grow with companies that attach importance to sustainable environmental resources, fully undertake social responsibilities and have good governance structure. More and more financial data prove that responsible investment can not only obtain good investment income from long-term investment, but also promote the company to better fulfill its social responsibility, as well as help investment institutions to identify and reduce risks in specific investment. It is incumbent for Gopher to practice responsible investment. "

Since 2014, Noah has been spontaneously releasing the annual "Noah Sustainability Report" to global investors. As a representative of China's wealth management industry, Noah's ESG development attracted attention from the outside world. In 2018, MSCI included Noah's shares into MSCI China Index and MSCI overseas China standard index.

Last month, when releasing its 2019 full-year results, the Company also announced that "responsible investment has become a global trend. In China, regulators and institutions are also actively encouraging and adopting such approach. In 2019, we have implemented ESG into our group strategy development and corporate governance. We will continue pursuing sustainable growth in ESG in 2020."

In 2019, Gopher's Redwoods fund launched its ESG responsible investment report, the first time for a Chinese asset management company to publish such content to international investors.

Ms. Frances Chang added that as a financial institution, Noah is a practitioner of long-term value investment concept and sustainable development. The Company has established a strategic consensus to take a long-term view, support unified actions, and implement the concept of responsible investment in the long run on the basis of solving the practical problems posed by the current epidemic.

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