German financial service company Ginmon has opened an office in Shanghai and signed a partnership contract with Shanghai-based Everbright Yunfu Internet.
The Frankfurt-based Fintech company enables private customers to invest in ETF portfolios, which are managed by software technology.
China Everbright Group is a financial holdings comprising security trading and banking with total assets of $579 billion. The institution will cooperate with Ginmon through its various channels.
‘After a deep analysis of all providers we are sure that Ginmon’s technology is the best match with our ambitions,’ said Lingwu Xia, vice chairman and CEO of Everbright Yunfu Internet.
Commenting on the Chinese asset market, Jerome Eger, managing director of Ginmon China said, ‘According to Casey Quirk the Chinese assets under management will grow from $3.2 trillion to $17 trillion in 2030 and thus will become the second largest asset management market behind the US.
‘The Chinese market for robo advisory is estimated at more than $750 billion in 2020. The industry offers an enormous growth potential of more than 15%.’