Yangzijiang Financial has appointed Wu Menglin as the group’s head of funds with effect from Oct 10.
Wu was previously at Singapore’s sovereign wealth fund, GIC, serving as vice president, private equity funds and co-investments. During her 10-year stint at GIC, Wu managed fund investments in Asia and co-investments in a diverse range of sectors, including healthcare, advanced manufacturing, consumer, TMT (or technology, media and telecom), FinTech and business services.
In her new role, Wu will lead the due diligence and selection process of the group's investments in international funds outside of China.
"We are delighted to have Menglin join us to expand our fund investments portfolio and operations across Asian markets. The group is confident that with her deep industry expertise, she will contribute immense value as we devote ourselves to meeting the evolving needs of diversification of our investment portfolio,” says Vincent Toe, CEO and chief investment officer of the group.
“Alongside our team of 70 seasoned professionals in Singapore and China, Menglin's appointment would strengthen our market position given her close relationships with leading fund managers,” he adds.
Further to its statement, Yangzijiang Financial says it has its sights set on diversifying its investments to ensure its “resilience and ability to deliver steady returns”.
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In the long term, the group is working towards building a balanced portfolio, with 50% of its funds being allocated to investments in China and the remaining 50% to investments beyond China.
Shares in Yangzijiang Financial closed flat at 37.5 cents on Oct 7.
