The firm’s total AUM was also down 30%.
The New-York listed Chinese wealth manager blamed negative investor sentiment for a fall in Q3 net revenue.
The NYSE-listed Chinese wealth management provider posted a net loss in 2018 on lower revenues and higher costs.
In the 1H, investors turned conservative, dragging down the value of wealth management products distributed by Chinese wealth manager Jupai, according to the firm’s CEO Ni Jianda.
Beijing-based Creditease has set up an overseas wealth management department, the next step in its plan to gain marketshare in overseas Chinese wealth management and eventually list in the US.
NYSE-listed Chinese wealth manager Jupai has been moving out of bond products for its wealth management clients and has reported a 28% rise in first quarter net profit.
In 2018, China’s NYSE-listed wealth manager Jupai plans to invest less in fixed income products and more in private equity and preferred shares.
Standalone wealth managers are growing fast and actively expanding overseas, but also facing increasing scrutiny over previously loose regulations, according to a Chinese think tank.
China establishes its first fund industry court; management shake-up at China’s Jupai Holdings and Hong Kong’s Value Partners; SFC to co-host two cyber-security workshops; EM hedge fund product returns double that of DM strategies; Amex survey reveals HK finance execs’ optimism towards SAR’s economy; and others…
Jupai and Noah, the two US-listed Chinese independent wealth managers, reported net profit gain over 35% and 20% respectively.