"This is an opportune time to implement responsible investing in China. It creates a win-win situation where we can fulfill our corporate social responsibility while generating returns for our investors. As the Chinese economy develops, there has been an increased focus on environmental, sustainable, and ethical investment practices," said Xiaodong Tang, Chief Executive Officer of ChinaAMC. "PRI's principles are aligned with our commitment to sustainable investment practices. It is also consistent with our fiduciary duty on maximizing returns of our clients. We will embark on the ESG endeavor by first developing clean energy strategies and fund. As an industry leader, ChinaAMC will continue to play an active role at the forefront of China's asset management sector." "We are delighted to welcome China Asset Management Company to the PRI," said managing director Fiona Reynolds. "Investors worldwide are increasingly recognising that ESG issues present material risks to their investments while at the same time, presenting new opportunities in areas such as renewable energy. We look forward to working with China Asset Management and hope that other Chinese investment managers will follow their lead." About China Asset Management Company Founded in 1998, China Asset Management Company is a leading Chinese asset management firm providing investment management, advisory and related services to retail and institutional clients. As of December 2016, the company has over $173 billion in assets under management. SOURCE China Asset Management Co., Ltd. (ChinaAMC)
China Asset Management (ChinaAMC) has become the first full service asset manager in China to join the the United Nations-supported Principles for Responsible Investment. The new guidelines are designed to help investors make informed decisions about investments and protect their assets. As part of its commitment, the asset manager will develop clean energy strategies. In December 2016, ChinaAMC revealed it managed more than $173bn in assets.