As Ray Dalio emphasizes, understanding the "big cycle" helps investors protect their wealth and achieve steady growth in various ways. Fluctuations in economic cycles influence wealth creation and distribution, and investors must identify and adapt to these cyclical changes.
In times of significant economic fluctuation, strategically optimizing asset allocation becomes increasingly important. As Noah's most prestigious client event, the Noah Black & Diamond Card Summit has been held continuously for fifteen years. Since 2009, Noah has created an annual platform for in-depth dialogue with clients, providing forward-looking insights on macroeconomic trends and asset allocation strategies. It has gradually become a Michelin-level benchmark in the wealth management industry. This annual event embodies both Noah's legacy and the wealth accumulation journey of its clients.
In 2022, we successfully held this event in Singapore for the first time, marking the global debut of the Noah Black Card Client Summit. Last year was also Noah's 20th anniversary and an important year for the deepening of Noah's internationalization process. In response to the growing demand for global asset allocation, and adhering to our philosophy of "wherever our clients are, we will be there," the 2023 Noah Black Card Client Global Tour Summit focused on themes of building safety margins, stabilizing core allocations, and investing in growth points, reconnecting with clients in Shanghai, Hong Kong, Singapore, and other locations.
In 2024, with the further deepening of our international business and the evolving client needs, we are excited to launch Ark Wealth Management—an upgraded wealth management platform focused on global Chinese investors.
On October 18, we held the launch ceremony for Noah’s upgraded international brand, ARK, at the Hong Kong Stock Exchange. At the core of our global strategy, ARK is committed to becoming the preferred overseas wealth management brand for global Chinese clients, embodying not just wealth but also the trust and future of our clients. ARK will uphold the core philosophy encapsulated in our slogan "Different World, Same Us," ensuring that no matter how the world changes, we will always accompany our clients as they move toward the future together.
Moreover, ARK, as the newly upgraded global wealth management platform for global Chinese investors under the Noah Holdings Group, will continue to host the overseas flagship Black & Diamond Card Client Annual Conference. This is why we are thrilled to launch this year’s ARK Black & Diamond Card Client Global Summit in Hong Kong. With vast opportunities ahead, it’s the perfect time to set sail! The transition from the Noah Black & Diamond Card Client Global Summit to the ARK Black & Diamond Card Client Global Summit reflects our ongoing pursuit of innovation and our global perspective, as well as our commitment to continually refining our service philosophy to meet client needs.
Hong Kong, as an international financial center, has consistently attracted global investors with its unique geographical location, robust legal framework, and free economic system. It is also a key hub for Noah's international expansion.
As a pioneer in wealth management in Hong Kong, we began our global market expansion in 2012, using Hong Kong as a base to meet clients' evolving asset allocation needs. In November 2023, the Black & Diamond Card Client Global Summit made its inaugural stop in Hong Kong, inviting numerous top-tier international institutions, leading thinkers, and cutting-edge investment experts to share insights and discuss global market allocation strategies and emerging trends.
We have been deeply engaged in the fields of wealth management and asset management for over 20 years. Our primary focus has always been how to "put clients first and ensure survival as the baseline," allowing us to protect client assets in any market environment. The core purpose of the annual Black & Diamond Card Client Summit is to both reward clients for their continued choice and long-term trust and provide forward-looking, objective, and independent asset allocation advice.
As we recognize the macro environment’s increasing complexity and fundamental changes being experienced by markets, we strive to reach a consensus with our clients on macroeconomic insights to ensure that asset allocation remains safe and effective. The market environment, along with various unforeseen factors within it, truly drives our cognitive abilities, corporate development strategies, and the direction of client asset allocation.
Just as the pioneers of the Age of Exploration opened the doors to new worlds through curiosity and action, in the second half of 2024, Noah's CIO Office emphasizes that "insight drives action, and action shapes the future”. This moment represents a critical decision-making period and action window for Global Chinese wealth managers to establish revolutionary new insights into economic cycles and geopolitical factors, enabling strategic asset allocation adjustments for individuals, families, and enterprises.
Since 2022, Noah's CIO Office has released seven CIO reports, aiming to reach consensus with clients. The reports introduced a five-dimensional wealth security assessment and a global insurance portfolio allocation model (New Quality Assurance), to help clients identify the blind spots in their asset allocation.
Today, global Chinese investors find themselves in a crucial window for strategic asset allocation adjustments concerning wealth management and inheritance. This period is characterized by the resonance of five major cycles, the simultaneous emergence of multiple turning points (including demographic dividends, urbanization processes, and economic cycles), and factors such as narrowing spaces due to policy changes and geopolitical considerations.
Based on elevated cognitive awareness, we define the overarching logic for allocation. By envisioning the future to define the present, we gain insights into upcoming trends and changes, informing our actions today. Our core strategic asset allocation objectives focus on wealth security, long-term inflation resistance, addressing domestic currency depreciation pressures, and ensuring the healthy growth of the family and household wealth.
How vast is the global market? Standing still will never provide an answer. After the year’s most impactful events unfold, we gradually move from uncertainty to clarity. The global trade landscape will face a severe new turbulence, geopolitical factors will have far-reaching impacts, and the onset of a rate-cutting cycle will shift global monetary policy. In the face of declining interest rates, how can savvy investors adjust their allocations?
At the ARK Black & Diamond Card Client Global Summit, we will invite insightful global macroeconomists, senior scholars, leading asset management investors, successful Chinese entrepreneurs, and founders of listed companies to engage in important discussions. We will focus on the topics that matter most to our clients, such as embracing the new cycle, optimizing wealth allocations, and exploring how we can embark on a new Age of Exploration together.
