Lu International, a Member of Ping An Group, Launches Online Wealth Management Platform Targeting Accredited Investors in Singapore

Lu International will leverage Ping An's and Lufax's legacy expertise in financial investment strategies,customer investment behaviour and its award-winning technology on the online wealth management platform,Lu Global.

Lu Global provides accredited investors in Singapore and investors in Asia access to wealth management products that were previously available to mainly private banking and institutional clients.

SINGAPORE,Sept. 20,2018 -- Lu International (Singapore) Financial Asset Exchange Pte. Ltd. ("Lu International") launched today an online wealth management platform,Lu Global,for accredited investors in Singapore and investors in Asia. Lu Global enables investors easy access to wealth management products that were previously available to mainly private banking and institutional clients.

Lu International was established[1] in Singapore in 2017 by Shanghai Lujiazui International Financial Asset Exchange Co.,Ltd. ("Lufax"),which operates China's leading wealth management platform Lu.com. Lufax is a member of the Ping An Group ("Ping An"),the largest integrated financial services company in China. Lu International was granted a Capital Markets Services License (CMS) from the Monetary Authority of Singapore (MAS) in July 2017.

Recent statistics[2] have shown that Asia-Pacific (excl. Japan) High Net Worth Individuals (HNWIs) lead the world in offshore-held wealth. Singapore[3] is a favored off-shore center which attracts HNWI wealth across the globe. Lu Global caters to such investors by making investment accessible through a click of a button,opening the door to premium wealth management products with a minimum investment amount of less than US$1,000. At present,there are 15 products on the platform,comprising a mixture of open-ended and closed-ended funds. The firm works closely with globally renowned financial institutions to offer diversified products suitable for Lu International's customers.

Kit Wong,CEO at Lu International adds,"We are thrilled to launch Lu Global in Singapore. We've received overwhelming interest from potential investors,fund houses and distributor networks since we first announced our plans for Singapore. The success of the platform is largely due to the award-winning technology deployed,and us leveraging on Lufax's expertise in online wealth management solutions in China and our key partners."

He adds,"Our mission is to make investing intuitive,accessible and self-directed. Investors will experience this as they register themselves on Lu Global. From onboarding to selecting their investment portfolio,investors will be equipped with financial information sufficient to make sound investment decisions."

Utilising Ping An's technology,Lu Global has instated a robust risk management system. The investor onboarding process uses cutting edge technology in the areas of big data,optical character recognition (OCR),GPS verification,facial recognition and artificial intelligence. Facial recognition technology is used to run multi-level checks on investor details including real-time face verification and name screening checks. The platform also adopts strict Know Your Product (KYP) and Know Your Customer (KYC) compliance procedures,alongside an Anti-Money Laundering (AML) and anti-fraud system.

Jessica Tan,Deputy Group CEO,Group COO and CIO of Ping An adds,"We are delighted to be part of this important initiative. Our technology will play an important role in opening up a fully automated wealth management tool to investors across Asia. The launch of Lu Global in Singapore marks a big step in Ping An's business strategy. We are looking forward to seeing what a difference our technology will make to investors and their investment experience,through Lu Global."

Greg Gibb,CEO and Co-chairman of Lufax adds,"Lu International serves as an important channel for Lufax to export our extensive fintech experience to the world. We are confident that Lu Global will provide investors with a diversified portfolio of investment solutions with greater convenience and at a low cost."

Investors[4] can choose to download the Lu Global app for free on the Apple Store or Google Play and sign-up. For more information,visit https://www.lu-global.com

About Lu Global

Lu Global is the online wealth management platform operated by Lu International (Singapore) Financial Asset Exchange Pte. Ltd. (Co. Reg No 201702479G). Lu International is a member of the Ping An Group,as well as a related entity of Shanghai Lujiazui International Financial Asset Exchange Co. Ltd ("Lufax"),which operates China's leading online P2P and wealth management platform Lu.Com. Lu Global is a mobile investment and wealth management platform operated out of Singapore. It offers 24/7 online access to a wide range of high quality investments. Lu Global offers investors the opportunity to invest easily with small investment amounts,and with low commitment period. Investors have the ability to invest with maximum flexibility while still being able to benefit from attractive returns. For more information,visit https://www.lu-global.com

About Lufax

Shanghai Lujiazui International Financial Asset Exchange Co.,operates China's largest online platform for wealth management and financial assets exchange,connecting investors to borrowers with a robust credit risk scoring. Through its best-in-class technology,broad set of financial products and industry-leading risk management,Lufax has revolutionized the way individuals,companies and financial institutions in China invest,lend and borrow money. Last year,total transaction volume on Lufax platforms grew 10 times to more than US$43.3 billion. As of June 2018,Lufax has 36,840,000 registered members and 9,900,000 active investors. For more information,please visit www.lu.com

About Ping An

Ping An Insurance (Group) Company of China,Ltd. ("Ping An") is a world-leading technology-powered personal financial services group. With 170 million customers and 459 million Internet users,Ping An is one of the largest financial services companies in the world. Under its 'pan financial assets' strategy,the company offers customers insurance,banking and asset management through its 'finance + technology' platform. Under its 'pan healthcare' strategy,the company uses a 'finance + ecosystem' platform to offer Internet users five ecosystems,covering financial services,healthcare,auto services,real estate services and Smart City services. Ping An is committed to investing in innovative technologies in fintech,AI and cloud to provide customers and Internet users with innovative and simple products and services. As China's first joint stock insurance company,Ping An Group is committed to upholding the highest standards of corporate reporting and corporate governance. The company is listed on the stock exchanges in Hong Kong and Shanghai. Ping An ranked 10th in Forbes' 2018 Global 2000,and it ranked 29th in Fortune Magazine's 2018 Global 500 Leading Companies. Ping An also ranked 43rd in 2018 WPP Millward Brown's BrandZ™ Top 100 Most Valuable Global Brands. For more information,please visit www.pingan.cn

[1]

Lu Global,Ping An's Lu International granted capital markets service license in Singapore. Source,Finextra.

[2]

Capgemini,Economic and political uncertainty drives HNWI holdings offshore. World wealth report,2017.

[3]

Capgemini,2017

[4]

Eligibility criteria applies.

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