合众资产管理股份有限公司

What 合众资产管理股份有限公司 does

合众资产管理股份有限公司 (Hezhong Asset Management Co., Ltd.) is a Beijing-based, privately held insurance asset management company licensed by the China Banking and Insurance Regulatory Commission. It was co-founded in 2012 by Union Life Insurance (合众人寿) and Beijing Chenyu Enterprise Management (北京宸瑜企业管理) with RMB 200 million registered capital, and operates from a single headquarters office in Haidian District, Beijing, with a headcount of approximately 89 employees. Its three product/service pillars are: (i) asset management products (collective insurance AM products, including the 稳赢 fixed-income series and Products 2–5号); (ii) entrusted management for institutional clients spanning fixed income, equity, infrastructure, real estate, and financial products; and (iii) alternative investments, where the firm has issued 30+ real estate debt plans since 2013, 15+ infrastructure debt plans since 2014, 4 equity plans since 2014, and project asset support plans since 2014, placing it in the industry top 10 by alternative-investment scale.

The firm's technology stack is built on standard third-party insurance-asset-management infrastructure rather than proprietary AI, including the Hengsheng middle-office system (恒生中台系统), a securities early-warning system (财汇证券预警系统EDR), a credit rating system (恒泰信用评级系统), a legal and regulatory case reference system (北大法宝法律法规和司法案例系统), and an anti-money laundering system (恒生反洗钱系统). Revenue is generated through management fees on asset management products and entrusted insurance fund mandates, supplemented by performance-based fees on alternative-investment vehicles (debt and equity plans) when returns exceed specified benchmarks. Pricing is not publicly disclosed; products are offered via non-public placement to qualified institutional investors and are individually negotiated based on investment size, product type, and client relationship.

The firm's primary customers are institutional — insurance groups, insurance companies, insurance asset management firms, banks, and securities firms — with the parent Union Life Insurance acting as both controlling shareholder and principal source of entrusted assets. Distribution is conducted through direct institutional sales and proprietary channels within the Union Insurance Group ecosystem (Union Life, Union P&C, Shengshi Hezhong, Younian Lifestyle), supplemented by required regulatory disclosures and industry events. The firm has no subsidiaries, no disclosed M&A activity, no funding rounds, and no patents or trademarks on record; its governance comprises a board with at least seven independent directors appointed across 2019–2025.

Name

合众资产管理股份有限公司

Legal name

合众资产管理股份有限公司

Website

https://unionasset.com.cn

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

51–100 employees

Short description

合众资产管理股份有限公司 is a Beijing-based, CIRC-licensed insurance asset management firm founded in 2012 as a subsidiary of Union Life Insurance, managing collective AM products, entrusted institutional mandates, and alternative-investment plans (debt, equity, asset support) primarily for insurance, banking, and securities clients in China.

Ownership category

akta.pro rank

Product category

Insurance Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Insurance-Integrated Wealth Managers (RIA + Insurance Solutions) (FSAAACAI)

akta.pro secondary industries

Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ), Multi-Asset Solutions for Institutional (Pensions/Endowments/Sovereigns) (FSAAAJAJ)

Keywords

• Insurance asset management
• Alternative investments
• Debt investment plans
• Equity investment plans
• Entrusted investment management

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Asset Management Fees: Management fees charged for managing asset management products and entrusted investment accounts for institutional clients including insurance companies, banks, and securities firms
2. Performance-based Management Fees: Performance-based fees from alternative investment products, particularly from debt and equity investment plans, where returns exceed specified benchmarks

Distribution channels2 records

Marketing channels3 records

Core offering

Hezhong Asset Management is a licensed insurance asset management company providing three core service lines: (1) collective asset management products (e.g., 稳赢1号 fixed-income products) for qualified investors, (2) entrusted account management covering fixed income, equity, infrastructure, real estate, and financial product investments for institutional clients, and (3) alternative investments including real estate debt investment plans, infrastructure debt investment plans, equity investment plans, and project asset support plans. The firm manages insurance fund investments and serves insurance groups, insurance companies, banks, and securities firms as qualified institutional investors.

Product overview

合众资产管理股份有限公司是一家保险资产管理机构，采用"资管产品+受托管理+另类投资"三大产品服务支柱架构。公司产品线包括：资管产品系列（稳赢1号等产品2-5号）、受托专户管理服务（面向机构客户，涵盖固定收益、权益、基础设施及不动产、股权投资及金融产品投资）、另类投资产品（不动产债权投资计划、基础设施债权投资计划、股权投资计划、项目资产支持计划）。各产品线覆盖公开市场与另类资产投资领域，面向合格投资者及机构客户提供专业化综合化资产管理服务。

Differentiator

Problem solved

Functional benefit

Brands

• 稳赢1号: 固定收益类集合资产管理产品，以追求长期绝对收益为导向，在有效控制风险的基础上，积极配置具有良好流动性的固定收益类为主的金融工具
• 合裕系列
• 合赢系列

Products and services

• 稳赢1号 (Wenying No. 1) A fixed-income collective asset management product aimed at pursuing long-term absolute returns by actively allocating primarily to fixed-income financial instruments with good liquidity under effective risk control, delivering sustained and steady returns to investors.
• Collective Insurance Asset Management Products - Product 2 through Product 5 Collective insurance asset management products issued via non-public placement to qualified investors, primarily investing in publicly traded market instruments under diversified portfolio strategies including fixed income, equity, commodity and financial derivatives, and mixed categories.
• Entrusted Account Management (受托管理) Entrusted special account management services for institutional clients delivering professional asset allocation strategies to achieve long-term stable investment returns. Investment scope covers fixed income, equity, infrastructure and real estate, equity investments, and financial products.
• Real Estate Debt Investment Plans (不动产债权投资计划) Alternative investment products investing in financing for hotels, office buildings, urban complexes, integrated commercial properties, senior living real estate, national-level technology development parks or industry bases, shantytown renovation, affordable housing, and policy-compliant land reserve projects.
• Infrastructure Debt Investment Plans (基础设施债权投资计划) Alternative investment products financing energy, resources, electricity, transportation, railway, hydropower, key municipal infrastructure, and poverty alleviation industrial park projects approved by provincial Development and Reform Commissions across new, under-construction, and built stages.
• Equity Investment Plans (股权投资计划) Alternative investment products financing projects controlled by central state-owned enterprises, provincial state-owned enterprises, or industry leaders with high subject credit ratings, fixed investment return arrangements, and expected safe exits. Structures include direct equity investments and limited partnership LP share investments.
• Project Asset Support Plans (项目资产支持计划) Structured financing products built on specificable underlying assets with genuine transaction basis, fair consideration, clear independent ownership, risk isolation, and stable cash flows throughout the duration, eligible for structured design.

Named customers5 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Three partnerships are on record, tiered core and minor.

• 合众人寿保险股份有限公司coreStrategic or Co-development Partner · 8 March 2012Parent company and primary strategic partner. Established Hezhong Asset Management together with Beijing Chenyu Enterprise Management. Provides core entrusted assets under management and serves as the main institutional client base. Major ongoing related party transactions for investment management services.
• 北京宸瑜企业管理有限公司coreStrategic or Co-development Partner · 8 March 2012Co-founding partner that established Hezhong Asset Management together with Union Life Insurance. Represents the second major shareholder in the joint venture.
• 盛世合众minorStrategic or Co-development PartnerAffiliate company listed as a related party entity, part of the broader Union Insurance Group ecosystem

Scale indicators6 records

Recent moves7 records

Expansion highlights4 records

Broad incumbents

• Ping An Asset Management: Largest insurance-affiliated asset manager in China, part of Ping An Group. Directly comparable business model: manages insurance funds via debt investment plans, equity investment plans, and entrusted mandates for institutional clients. Significantly larger scale but offers the most direct product overlap.
• China Life Asset Management: Wholly-owned subsidiary of China Life Insurance, the largest life insurer in China. Operates as a licensed insurance AM firm with a full suite of alternative investment products (debt plans, equity plans, asset-backed plans) and serves institutional clients. Comparable in regulatory positioning and product mix.

Direct peers

• China Pacific Asset Management (CPIC Asset Management): Wholly-owned subsidiary of China Pacific Insurance Group and a licensed insurance asset manager. Offers similar alternative investment products (real estate debt, infrastructure, equity plans) and entrusted management for institutional investors. Closest direct competitor in size and product mix.
• Sun Life Everbright Asset Management: Joint-venture insurance asset management firm between Sun Life (Canada) and China Everbright Group. Focused on alternative investments and institutional asset management, comparable in scope of products and institutional client base.
• Taikang Asset Management: Insurance-affiliated asset manager under Taikang Insurance Group. Offers similar alternative investment products including real estate debt, infrastructure, and equity plans, with comparable focus on long-term institutional mandates. Similar mid-sized scale.
• New China Asset Management: Asset management subsidiary of New China Life Insurance, licensed under CBIRC. Operates in insurance fund investments through alternative investments and collective asset management products. Comparable model and product set.
• China Continent Asset Management: Wholly-owned subsidiary of China Continent Property & Casualty Insurance. Provides insurance asset management services including alternative investments and entrusted management, making it a close peer in business scope though with a P&C rather than life insurance parent.
• PICC Asset Management: Subsidiary of PICC Group and a licensed insurance asset management company. Provides debt investment plans, equity investment plans, and entrusted management closely overlapping with Hezhong Asset Management's offerings for insurance fund deployment.

Emerging players

• Bosera Asset Management: One of China's largest public-offered mutual fund managers, with an established presence in collective asset management products and fixed income. While not strictly insurance-affiliated, competes in the broader pool of collective asset management products targeting qualified institutional investors.

Regional players

• China Merchants Fund: Major Chinese asset management firm with institutional mandates and collective products. Operates in portfolio management and investment advice for institutional clients, partially overlapping with Hezhong's collective asset management product line.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/%E5%90%88%E4%BC%97%E8%B5%84%E4%BA%A7%E7%AE%A1%E7%90%86%E8%82%A1%E4%BB%BD%E6%9C%89%E9%99%90%E5%85%AC%E5%8F%B8

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about 合众资产管理股份有限公司