Beijing, November 1, 2016 – Dr. Hu Jinhui, CTO of CreditEase Wealth Management Toumi RA, presented at 2016 China FinTech Innovation Conference held in Shanghai on October 27 and 28, 2016. Dr. Hu gave a speech at the forum with the theme of “Artificial Intelligence, Robo-advisor & Intelligent Finance” about the past, present and future of Artificial Intelligence (AI), robo-advising as well as CreditEase Wealth Management’s explorations into the RA business.
Over 500 renown experts from governmental associations, banks and FinTech companies attended the event.
With one decade of experience in AI, Dr. Hu described how the technology is now attracting unprecedented attention amid the rise of deep machine learning and the milestones such as Alpha Go, and how it has been penetrating our daily lives with applications like speech/image/facial recognition, VR, AR and self-driving.
Dr. Hu foresaw enormous market potential of robo-advising, a business standing on the wind hole of FinTech, because the 120-million middle-class Chinese have growing demands for wealth management services which can no longer be fully met by manpower.
In 2016, Chinese has 50 trillion RMB in savings and close to 100 trillion RMB of investable money, and by 2020, it’s predicted that China’s investable assets will increase to 200 trillion RMB.
“By then, robo advisors will have a large market even if they only grab a 10-percent share of total volume, which will reach 20 trillion RMB.” Dr. Hu said.
Further, Dr. Hu shared two crucial rules for asset allocation – to build cross-region, cross-border portfolios, and diversify them with multi-asset classes. Based on the modern investment portfolio theory and back-end algorithms, Toumi RA is capable to achieve the two objectives because it provides global ETF portfolio asset allocation by tracking stock, bonds and property market indexes in China, the U.S. and other countries in real time.
“Asset allocation is the only free lunch for investors now.” Dr. Hu noted.
From May 28 when Toumi RA was launched till September 30, 2016, statistics shows that Toumi has outperformed S&P 500, and the nine portfolios has scored between 9.82% - 16.23% of annualized returns, despite the Black Swans during this period such as Brexit and the stock slump in the U.S.
About CreditEase Wealth Management
The independent wealth management arm of CreditEase focuses on comprehensive global asset allocation service for high-net-worth individuals in China, offering a wide range of services and products, available in multiple currencies (RMB, USD, EUR and etc.), for inbound and outbound investment in areas of fixed income, private equity, capital market, hedge funds, real estate, insurance, as well as investment immigration and international education. It is committed to provide high-quality assets in line with customers’ asset situation and expectations, as well as formulating comprehensive plans for their wealth preservation and growth.
CreditEase is a leading FinTech company in China, specializing in small business and consumer lending as well as wealth management for high net worth and mass affluent investors. It is a Standing Committee member of China’s Internet Finance Industry Association and Chairman of Beijing Marketplace Lending Association. Its majority owned subsidiary Yirendai (NYSE: YRD), an online consumer finance marketplace, is listed on the New York Stock Exchange