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Azimut signed an agreement to invest in Youmy Wealth Management


Azimut Group (“Azimut”), one of Europe’s leading independent asset managers, through its Hong Kong
subsidiary, An Zhong (AZ) Investment Management Hong Kong Ltd. (“Azimut Hong Kong”), signed an
agreement with Youmy Wealth Management (“Youmy”). The agreement focuses on the development of a
strategic commercial relationship between Youmy and Azimut Hong Kong as well as an incremental equity
participation in Youmy shareholding subject to the approval from local authorities.
Youmy, founded in 2014, is built on an innovative business model based on partnerships with family offices.
Youmy now includes a network of 28 family offices in 15 cities across China. Youmy’s expertise extends to
the PE and VC asset classes where their subsidiary manages just over RMB 1 billion of PE and VC funds.
Youmy’s founders include some of the pioneers of the wealth management industry in China with deep
knowledge and insights on the needs of Chinese high net worth clients.
The Chinese asset management and wealth management industries have already cemented themselves as
one of the most important in the world. At end of 2017 the industry had total cumulative assets under
management of RMB 53.6 trillion (US$ 8.2 trillion) of which RMB 22.7 trillion (US$ 3.4 trillion) were in
private funds.

Pietro Giuliani, Chairman of Azimut Holding, comments: “As we have said in the past, no global asset
manager is truly global without a presence in a market as big and important as China’s and with this new
investment Azimut reaffirms its commitment in expanding our presence in China and Asia. We always look
to find like-minded partners and both in terms of the management team’s entrepreneurial spirit and
business model we see so much in Youmy that resembles the Azimut of 20 years ago”.


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