QZ Asset Management Reports Record Growth at Annual General Meeting
Guangzhou, China--(Newsfile Corp. - July 21, 2022) - QZ Asset Management ("QZ" or the "Company"), a leading asset management firm in China, today announced that its annual general meeting (the "AGM") was held in Guangzhou on June 30, 2022 and all the proposed resolutions set out in the notice of AGM were duly passed at the AGM. Key financial highlights for 2021 and the first quarter of 2022 were also disclosed.
Mr. Blake Yeung, CEO of QZ Asset Management, told shareholders at the AGM that the company has posted exceptional results for 2021. He said, "We have achieved exceptional growth in 2021, ending the year with record assets under management of over CNY 50 billion. Trading profits are up 20% from 2020, delivering CNY 15 billion in investment returns for our clients while recording net inflows of CNY 10 billion into both index and index futures trading. Core earnings increased by 50%, driven by significant management fee growth, strong index trading profits, and our global expansion strategy."
2021 Key Financials
- Assets under management (AUM) increased by 89% to CNY 50.1 billion (31 Dec 2020: CNY 26.4 billion)
- Positive investment performance of CNY 15.2 billion (2020: CNY 3.3 billion)
- Net inflows of CNY 10.8 billion (2020: CNY 1.8 billion)
- Asset weighted investment performance versus peers of +14.9% (2020: 4.2%)
- Strong balance sheet position and liquidity support long-term growth prospects
Blake added that the company 'has continued to exceed targets for Q1 2022 and is currently on track to surpass 200% YoY growth by the end of 2022.'
"These results demonstrate the potential of index trading and our ability to deliver profitability. The success of QZ's BDAI technology and our imminent move into high growth markets give me great confidence in our ability to continue to deliver value for our clients and shareholders."
All necessary shareholders' approval in respect of the Company's proposed entry into emerging markets has been obtained at the AGM. The strategic move, which is expected to commence in Q3 2022, will see QZ expand its operations into high growth markets.
Blake explained, "We see tremendous potential in regions such as Africa and Latin America, with their large untapped markets and high digital acceptance. Now, with the ease of Covid-19 restrictions, it is the perfect time to venture into these markets as they recover from the global pandemic."
About QZ Asset Management
QZ Asset Management was founded in 2012 and is headquartered at Guangzhou with additional offices worldwide, led by a team of experienced investment professionals and analysts. The company is able to deliver 10 years of excellent trading record using proprietary BDAI (Big Data Artificial Intelligence) trading technology that is based on highly advanced real-time market intelligence and big data analytics.
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