The German financial service company Ginmon opened an office in Shanghai and signed a partnership contract with Everbright Yunfu Internet Co. Ltd, the internet finance subsidiary of China Everbright Group. The cooperation is the first of its kind in the world.
Jerome Eger, Managing Director Ginmon China arranged the cooperation: “According to Casey Quirk the Chinese assets under management will grow from US$ 3.2 trillion to US$ 17 trillion in 2030 and thus will become the second largest asset management market behind the US. The Chinese market for Robo-Advisory is estimated at more than US$ 750 billion in 2020. The industry offers an enormous growth potential of more than 15 percent”, Eger explains. The wealth management adviser who formerly worked at The Boston Consulting Group has been engaged in China-projects for over ten years and manages a team of seven persons in Shanghai.
Lingwu Xia, Vice Chairman and CEO of Everbright Yunfu Internet Co. Ltd is pleased about the collaboration and looks forward to a successful cooperation: “After a deep analysis of all providers we are sure that Ginmon’s leading technology is the best match with our ambitions”, explains Xia. Beside their convincing technology the new partners are impressed with the attractive investment solutions. Everbright Yunfu Internet Co. Ltd plans to cooperate with Ginmon through various channels. The institution’s parent company, China Everbright Group, is one of the most dominant Chinese financial holdings, comprising security trading and banking with total assets of US$ 579 billion.
Ginmon paves the way for the cooperation with China by means of the advisory board founded in March. “200 million individual investors in China are already invested in capital markets. Automated portfolios are considered to be the next trend in the Fintech sector”, says Ginmon’s managing director Lars Reiner. Since founding, commitment in the Far East is part of Ginmon’s corporate DNA. As a result of having studied together at Frankfurt’s Goethe University Eger and Reiner know each other from early in the beginning.
The Frankfurt based Fintech-company enables private customers to invest in ETF-portfolios, which are managed by state-of-the art software technology. The portfolio management technology – developed completely in- house – invests customer assets based on Nobel prize awarded research and the 3-Factor model by the US portfolio scientist Prof. Fama. Due to the high degree of automation, the investors gain a reliable portfolio management at very low costs. Ginmon thereby offers a service which could previously only be delivered to very wealthy and institutional investors. Ginmon cooperates with DAB BNP Paribas Bank, a Munich based partner bank, which provides their fully regulated custodian accounts and offers the customers the highest level of security. Ginmon also offers saving plans, starting at 50 Euro per month and tax-optimised accounts for children. For further information, please visit: www.ginmon.de/presse