Minmetals International Trust wins Asiamoney’s best trust firm award for the fourth year in a row – a clear acknowledgment of its capabilities in luring wealthy clients, even in turbulent times.
The trust had revenues in 2022 of Rmb3.5 billion ($500 million) and net profit of Rmb1.78 billion.
Assets under active management were worth Rmb699 billion last year, accounting for 94% of total trust AUM, up from 88% in the previous year, according to unaudited data provided by the group.
Minmetals’ wealth management centre of 440 people is led by He Fei. Although lockdowns in China prevented face-to-face meetings over the last couple of years, the firm has managed to attract about 30,000 clients cumulatively over the past 12 years. Minmetal’s average subscription starting point is Rmb3 million, while average assets in clients’ accounts is about Rmb8 million.
To navigate the uncertainties and turmoil across the markets, the firm has put significant effort into enriching its product offerings and adopting a four-pronged strategy: know your client, know your market, know your product and know your allocation.
For example, in addition to traditional equities and fixed income products, Minmetals’ offerings included high volatility fund of funds and quantitative products with a macro strategy so that clients could diversify their portfolios.