Yangzijiang Financial Holding increases Singapore investments to diversify exposure to China

Bryan Wu
1-min read

The company's investments in Singapore have grown over $500,000 in the 3QFY2023 ended Sept 30.

Yangzijiang Financial Holding (YFH) YF8 has reported $4.0 billion assets under management (AUM) for its 3QFY2023 ended Sept 30.

YFH had deployed over $1.0 billion of its proprietary capital into investments outside China as at the end of the same period.

The company plans to gradually increase its investments outside China over the next five years to 50% in an attempt to grow its AUM while diversifying exposure.

As at Sept 30, China accounted for $2.9 billion or 73.2% of YFH’s portfolio allocation while Singapore accounted for $1.1 billion or 26.9% of its portfolio.

YFH’s Chinese portfolio has shrunk compared to its figures as at the end of 2QFY2023, when China accounted for $3.4 billion or 85.5% and Singapore accounted for $574 million or 14.5% of YFH’s portfolio.

As at June 30, the company’s net asset value (NAV) stood at $3.84 billion.

The company has also repurchased 8.8% of its shares worth some $129.0 million since the launch of its buyback programme.

CEO Vincent Toe, who announced his resignation on Oct 20, will step down from his position on April 24 next year.

Ren Yuanlin, YFH’s executive chairman, will take over as CEO and oversee the group’s investments in China and Singapore.

Shares in YFH closed 0.5 cents or 1.54% down at 32 cents on Nov 23.

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