CreditEase
CreditEase set itself further apart from its domestic peers in 2016 with its remarkable success in sustaining robust business growth, the outstanding performance of its product offerings and its leadership in exploring advanced technologies to develop innovative products.
In the last five years, CreditEase’s assets under management (AuM) have maintained an annual growth rate of 50%. In 2016, it recorded a 30% increase in the number of clients. During the year, 24% of the firm’s clients made additional investments in its wealth management products. Last year, its AuM overseas and AuM in fund of funds (FoFs) also surged 60% and 90% year on year respectively. As a result, its combined AuM exceeded Rmb250 billion ($36.4 billion) by the end of 2016.
The firm’s main wealth management products posted impressive results last year: the average annualized return of its private equity funds and real estate investment funds was between 10% and 20%; at the end of 2016, 37% of its private equity products started distributing cash returns to investors one year after inception; throughout 2016, 79% of its capital market FoFs generated positive yields, while only 32% of private stock investment funds in the market did so.
CreditEase, under founder and CEO Ning Tang, continues to lead its peers in using modern technologies to provide better service for its wealth management clients. Last year, it launched a robo-adviser platform to help mass affluent clients find the most suitable asset allocation choices and enable them to track and rebalance their portfolios in real time to optimize returns.
The firm also rolled out a smart insurance platform, which uses big-data analytic tools that immediately construct and recommend comprehensive insurance plans for clients after they submit information via their mobile phones. It also allows clients to track the performance of loans offered to needy people by applying blockchain technology in philanthropic financing.