Core Insights - The demand for wealth management products among listed companies has significantly decreased, reaching a new low since 2022, with a total subscription amount of approximately 2887.69 billion yuan, a year-on-year decline of 24.5% [1][2][5] Investment Trends - Listed companies are shifting towards a more conservative and diversified investment approach, prioritizing capital safety and liquidity, with a surge in demand for customized services [1][5][8] - The investment in bank wealth management products has slightly increased by 1.7% to 304.8 billion yuan, while subscriptions to securities institution products rose by 7% to 225.01 billion yuan [6][7] Structural Changes - There has been a significant reduction in the allocation to structured deposits, which saw a decline of over 30% to 1712 billion yuan, reflecting a shift in investment preferences [6][7] - The overall investment style of listed companies is becoming more cautious, focusing on risk diversification and flexible asset allocation [7][8] Recommendations for Companies - Companies are advised to optimize asset allocation, diversify investment risks, and stay updated on market dynamics to enhance their financial management strategies [7][8] - It is suggested that companies should not rely on investment income as a primary profit source but rather use wealth management as a liquidity management tool to support core business growth [8]

黄国维表示："我们了解到家族办公室在当前迅速变化且不可预测的全球环境中扮演着更为重要的角 色。一家卓越的联合家族办公室必须为超高净值客户提供一个全面且独立的平台，以综合和个性化的方 式管理财富，应对复杂的经济环境，提升投资回报并降低风险。这不仅包括为客户寻求专属的投资机 会，还涵盖企业传承、家族治理、税务规划和下一代客户需求等必要的全方位家族办公室服务，以建立 完整连贯的财富管理计划。我非常荣幸能够带领与我共享相同愿景和使命的专业团队，携手合作，与全 球的客户共享成功。" 黄国维在业界拥有超过30年的领导经验，是业内翘楚。他与多家顶尖国际公司的工作经历使他具备涵盖 保险、信托、财富规划和家族治理等领域的专业知识。在加入睿峰前，黄国维为Charles Monat Associates亚太区行政总裁。此前，他担任法国巴黎银行财富规划的亚洲区域主管，领导负责财富规划 和慈善事业发展两大团队。 5月12日，专为超高净值人士和家族提供一站式财富管理服务的联合家族办公室睿峰宣布，任命黄国维 为集团行政总裁，即日起生效。此次任命标志着睿峰集团业务拓展的重要里程碑，也是其长期发展战略 的一部分。集团同时扩充位于中环渣打银行大 ...

本报记者 郝亚娟 张荣旺 上海、北京报道 随着中国财富管理行业的持续深化，买方投顾市场正迎来前所未有的发展机遇。《中国经营报》记者近 日专访了北京市东城区立鼎金融与发展研究院财富管理研究中心主任、公众号"量策组合配置学"主理人 李明鸿。 李明鸿指出，一些投资者对买方投顾存在误解，误以为聘请专业投资顾问就能确保获得高额回报，实际 上任何投资都有风险，经验丰富的投顾也不能保证市场表现或投资结果；也有部分投资者认为买方投顾 应提供内幕消息或短期高收益策略，但实际上投顾的核心价值在于中长期资产配置和风险管理，而非短 期投机。真正有价值的买方投顾不仅仅是"推荐策略、推荐产品的人"，而应成为客户投资旅程中的长期 陪伴者与价值引导者。 "买方投顾的健康发展，离不开投资者、金融机构与监管部门的协同努力。投资者需提升金融常识素 养，理性看待市场波动，主动寻求适合自身的专业投顾服务；金融机构应加强服务能力建设，提供以客 户利益为中心的专业化投顾服务；监管部门则需完善制度设计，推动行业规范发展。"李明鸿说。 买方投顾市场存在五大不足 五是收费模式待优化：目前买方投顾的收费模式还不够完善，部分投资者对收费标准和方式存在疑问。 《中国 ...

晨星（中国）2025年度投资峰会最新议程及嘉宾阵容出炉！ 此次峰会将于5月22日在上海浦东香格里拉酒店举办， 报名截止日期为2025年5月20日。 欢迎扫描 下方二维码或点击文末"阅读原文"进行报名注册。 晨星投资峰会（Morningstar Investment Conference，MIC）是晨星的标志性盛会，拥有超过37年 的历史，足迹遍布中国、美国、澳大利亚、荷兰、印度、南非等国家，持续赋能全球数万名投资 者，实现财富保值与增值。 今年，晨星（中国）投资峰会即将落地上海，立足全球视角，结合海内外实践经验，与行业领袖共 探本土财富管理行业发展之道！ 峰会由晨星中国主办，广州投资顾问学院、嘉信理财、易方达基金、鹏华基金、基煜基金、盈米基 金、广州投资顾问产业链投资有限公司提供赞助支持。 晨星（中国） 2025 年度投资峰会最新议程如下： 主办方 赞助支持 charles SCHWAB 品信理 H M >RNINGSTAR 四) 广州投资顾问学院 缓易方达 投资顾问 了基熔基金 图米基金 《彩 鹏华基金 x 广州投顾产业链接资有限公司 3 2025年5月22日(星期四) Ω 上海浦东香格里拉酒店(上海浦东新 ...

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 more than doubled year over year to $44.1 million from $21.5 million [6][13] - Adjusted net income increased to $17.3 million, representing a 158% increase compared to $6.7 million in the prior year [15] - Adjusted EBITDA also more than doubled to $24.5 million, with an adjusted EBITDA margin of 55.6% compared to 53.9% in the prior year [15] - GAAP net income attributable to stockholders was $4.6 million, compared to a GAAP net loss of $1.3 million in the prior year [15] Business Line Data and Key Metrics Changes - Life Solutions revenue was a key driver, with capital deployed increasing 128% to $124.9 million in Q1 2025 compared to $54.6 million in the prior year [13] - Asset management revenue for Q1 2025 was $7.8 million, marking the first full quarter of asset management fees from acquisitions [14] Market Data and Key Metrics Changes - New AUM inflows of $151 million were recorded, with approximately $123 million coming from expanded private fund offerings launched in late February [9][10] - The real assets ETF saw an increase in net new inflows of $44 million in the first quarter [10][72] Company Strategy and Development Direction - The company aims to solidify its position as a leader in alternative asset management and wealth management, focusing on uncorrelated assets [12] - A rebranding to Abacus Global Management reflects the company's evolution and expanded global market presence [10] - The company is committed to executing its growth strategy and expanding its brand recognition through a new advertising campaign [10][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating current market volatility and achieving full-year 2025 adjusted net income guidance of $70 million to $78 million, implying growth of 51% to 68% [6][16] - The macro environment remains uncertain, but the company believes it is well-positioned to capitalize on opportunities arising from market dislocations [9][12] Other Important Information - As of March 31, 2025, the company had cash and cash equivalents of $43.8 million and balance sheet policy assets of $448.1 million [9][16] - The company has purchased over $10 billion in face value of life insurance policies since February 2004 [10] Q&A Session Summary Question: Has there been an uptick in inquiries from policyholders since Liberation Day? - Management noted a noticeable increase in inquiries related to policyholder liquidity and investor demand for uncorrelated assets [20][21] Question: How does the company view the new repurchase authorization? - The company considers the repurchase option thoughtfully, evaluating stock valuation against return on equity from policies acquired [23][24] Question: Is the company fully deployed today? - Management confirmed that the capital deployment of nearly $125 million in Q1 was a record and indicated strong origination efforts [27][28] Question: What are the latest thoughts on the carrier buyback program? - Management reported ongoing activity in the carrier buyback program and noted increasing competition for assets [31][33] Question: Can you provide an update on technology solutions? - The technology solutions segment has nearly one million lives under management, with significant growth expected [41][42] Question: What is the mix of policy acquisitions? - Approximately 40% of policy flow was direct to consumer, 40% from financial advisors, and 20% from brokers [66] Question: What is the status of the AUM and advisor strategy? - The company reported significant inflows in both private funds and ETFs, with plans to grow the advisor strategy in the coming quarters [71][77]

Group 1 - The article highlights the challenges faced by individual investors in Australia, including market volatility, information asymmetry, tax traps, and cultural barriers [2][4] - It emphasizes the importance of diversification in investment strategies, especially in the context of political uncertainty and rising global asset correlations [4] - The article discusses the potential structural opportunities arising from policy changes, such as pension reforms and renewable energy subsidies, while also warning of the risks associated with commodity price fluctuations and currency exchange rates [4][6] Group 2 - The upcoming seminar hosted by Solomons Group will focus on global financial trends for the second half of 2025, covering stock market hotspots, policy movements, and asset allocation strategies [5][6] - The event aims to provide insights into key variables affecting global markets and to enhance understanding of family asset management, risk hedging, and tax planning [6] - Attendees will have the opportunity for one-on-one discussions with experienced advisors to explore personalized asset allocation strategies [9] Group 3 - Solomons Group is an independent wealth management firm in Australia, focusing on customized asset allocation and wealth planning services for high-net-worth individuals and families [15][16] - The firm integrates a team of professionals, including lawyers and accountants, to provide comprehensive solutions in areas such as asset allocation, family trusts, and tax planning [15][16] - Solomons Group emphasizes a client-centric approach to wealth management, aiming for sustainable long-term growth strategies [15][16]

Core Insights - Noah Holdings (NOAH) experienced a stock price increase of 2.72% on May 1, reaching $9.44 per share, with a total market capitalization of $627 million [1] - For the fiscal year ending December 31, 2024, Noah's total revenue was 2.601 billion RMB, a year-on-year decrease of 21.06%, while net profit attributable to shareholders was 475 million RMB, down 52.9% year-on-year [1] Company Overview - Noah Holdings is a leading wealth management service provider primarily catering to high-net-worth Chinese investors, offering comprehensive global investment and asset allocation consulting services [1][2] - As of March 31, 2024, Noah's total assets under management through its subsidiary, Gaofei Asset Management, reached 153.3 billion RMB (approximately $21.2 billion) [1] Business Operations - The wealth management business of Noah includes the distribution of private equity, private securities, public funds, and comprehensive services for wealth preservation and inheritance, denominated in RMB, USD, and other currencies [2] - Noah's service network spans major cities in mainland China, as well as Hong Kong, New York, Silicon Valley, Singapore, and Los Angeles, supported by 1,109 client managers [2] - The company has over 450,000 registered clients in its wealth management business as of March 31, 2024 [2]

晨星投资峰会（Morningstar Investment Conference，MIC）拥有超过37年的历史，是晨星享誉全 球的年度投资盛宴，足迹遍布中国、美国、澳大利亚、荷兰、印度、南非等国家，持续赋能全球数 万名投资者，实现财富保值与增值。 晨星（中国）2025年度投资峰会由晨星中国主办，广州投资顾问学院、嘉信理财、易方达基金、鹏 华基金、基煜基金、盈米基金、广州投资顾问产业链投资有限公司提供赞助支持。 此次峰会将于5月22日在上海浦东香格里拉酒店举办，围绕"智汇全球・共见未来——探索买方投顾 新生态"，设置7场圆桌对话，5大主旨演讲，深度聚焦买方投顾生态重构、AI赋能资产管理体系等 前沿议题，汇聚海内外顶尖的行业领袖和专家学者，共探本土公募基金与财富管理市场的未来新路 径！ 欢迎 扫描下方二维码 或 点击文末阅读原文 进行报名注册！ 晨星（中国） 2025 年度投资峰会最新峰会议程： | 09:00-09:10 · 开场致辞 | | | --- | --- | | . 09:10-09:40 | 主旨演讲 | | | 公募基金和财富管理的大趋势(拟) | | 09:40-10:10 . | 主旨演讲 ...

Group 1 - The event "Crossing the Bay Area: Innovation and Opportunities for Family Offices" was held in Shenzhen, focusing on collaboration between family offices and wealth management institutions from Shenzhen and Hong Kong [1][4] - Family offices are recognized as a significant force in wealth management, serving as platforms for high-net-worth individuals and contributing to long-term capital for technological innovation and economic development [4][5] - Shenzhen and Hong Kong are positioned to achieve "differentiated synergy" in wealth management and family office operations, enhancing economic vitality through close cooperation [4][5] Group 2 - Hong Kong is a leading hub for wealth management and sustainable investment in Asia, with over 2,700 single-family offices established there, while Shenzhen is a global technology innovation center [5][9] - The demand for succession and intergenerational transfer in private enterprises is increasingly urgent, indicating significant growth potential for family offices in mainland China [9] - Shenzhen has implemented supportive policies for the establishment of family offices, including the acceleration of building an international wealth management center and facilitating the registration of Hong Kong family offices in Shenzhen [9]

作者：金融业资深人士杨峻 上周日北京的机器人马拉松比赛出圈了。可惜，被寄予厚望的20家机器人参赛选手中，最终只有6家完 成比赛。赛后，机器人跑者的"翻车"合集在网上热传。更有网友忿忿吐槽，"全是噱头！"，"机器人残 运会"，"机器人题材要全部跌停"等。然而，仅仅四个月前，当扭秧歌机器人在春晚闪亮登场时，网友 们的满屏欢呼还历历在目。为何一有成绩就上头，一遇挫折就掀桌？情绪起伏的背后，症结是缺乏长期 主义的耐心。 事实上，机器人第一次从实验室走出来，通过21公里的复杂地形，如坡道、转弯、路面不平，相当于进 行了一场极限的压力测试，对人形机器人的动态平衡、关节耐磨损性、散热系统、续航能力提出全方位 挑战。与先前实验室演示的"炫技"相比，这场压力测试撕碎了投机者们"万物皆可速成"的幻想。同时帮 助真正的长期主义者客观评估发展现状，在机器人软硬件技术耦合、AI算法提升等方面倾注更大努 力，从而在未来实现更多应用场景的落地。 与历史长河中所有颠覆性技术的必经之路一样，短期挫败从来不是终点，而是长期征程的新起点。扭秧 歌机器人的闪亮登场是阶段性的成功，但并不代表未来的一帆风顺，因此不应盲目乐观。机器人马拉松 的不完美也并 ...