Shanghai-based wealth manager Noah Holdings also saw net loss in the fourth quarter of 2020, due to the Camsing settlement.
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Shanghai-based wealth manager Noah Holdings also saw net loss in the fourth quarter of 2020, due to the Camsing settlement.
Separately, traditional investments, including mutual funds, accounted for around 80% of the products distributed by the firm in Q1.
A tough Q4 has impacted the NYSE-listed Chinese wealth management firm.
The Shanghai-based wealth management firm reported income dropped 50% in the third quarter due to factors including China’s slowing GDP.
The Camsing scandal and the ongoing Hong Kong protests cast a shadow over the wealth management firm’s 2019 forecast.
Part of the Mark Allen Group.