Orlando, FL 2/22/12 (StreetBeat) -- Noah Holdings Limited (NYSE: NOAH), the leading independent service provider focusing on distributing wealth management products to the high net worth population in China, announced that a PRC affiliated entity of Noah, Noah Upright Co. Ltd., today was granted a mutual fund distribution license by the China Securities Regulatory Commission (the “CSRC”). Noah Upright is amongst the first to be granted a mutual fund distribution license after the CSRC began to receive applications last year. Noah Upright, renamed from Shanghai Noah Investment Consulting Co. Ltd., is an independent mutual fund distribution and advisory company serving high net worth individuals in China.Ms. Jingbo Wang, Noah’s Co-founder, Chairwoman of the Board of Directors and Chief Executive Officer, commented, “We are pleased that we were granted a mutual fund distribution license by the CSRC. We believe that being able to distribute mutual funds will augment our product portfolio and allow us to better serve our clients in China. We will actively refine our mutual fund distribution strategies and related execution in the coming future. ”
ABOUT NOAH HOLDINGS LIMITED
Noah Holdings Limited is the leading service provider focusing on distributing wealth management products to the high net worth population in China. Noah distributes over-the-counter wealth management products that are originated in China, including primarily fixed income products, private equity funds and securities investment funds. With over 500 relationship managers in 53 branch offices as of September 30, 2011, Noah’s total coverage network encompasses China’s most economically developed regions where the high net worth population is concentrated. Through this extensive coverage network, product sophistication, and client knowledge, the Company caters to the wealth management needs of China’s high net worth population.
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