Global finance leaders decode discretionary investment services and multi-asset allocation under the theme “Global Vision, Growth Momentum”
HONG KONG, Sept. 23, 2025 /PRNewswire/ — Olive Asset Management (“Olive”), a subsidiary of Noah Holdings Limited (NYSE: NOAH; HKEX: 6686), successfully hosted the three-day “Olive 2025 Global Investors Summit” in Hong Kong from 15-17 September. The event drew nearly 300 high-net-worth attendees, of whom nearly 70% were professional investors; the remainder were institutional investors.
Olive’s global leadership team shared the stage with representatives from Goldman Sachs, Macquarie, Schroders, Wellington Management, ExodusPoint, HashKey, and Graham Capital. Together, they explored discretionary investment services (“DIS”) and multi-asset allocation frameworks under the theme “Global Vision, Growth Momentum” presenting resilient portfolio methodologies enabled by AI, diversified across asset classes and currencies.
In his opening remarks, Noah Holdings CEO Zander Yin noted that both global and Chinese economies are undergoing profound structural shifts, with the technological cycle—particularly AI—reshaping growth paradigms. He advocated upgrading asset management to a “three-pillar allocation” that integrates tech-driven disinflation, digital assets, and inflation hedges, and urged Chinese entrepreneurs to focus on three priorities: dual-circulation expansion overseas, internationalization of family and human capital, and global asset allocation.
Speaking on “Rewriting Growth Through Tech Disinflation,” Global CEO of Olive Asset Management Jing Peng detailed the core value of the firm’s DIS offering. She emphasized that discretionary mandates replace the constraints of individual decision-making with institutional capabilities, freeing clients from day-to-day execution to focus on strategy and goal-setting. Olive has enhanced its research, product, and global platform capabilities to run parallel allocations in RMB and USD systems, emphasize primary–secondary market synergies and dynamic management, and build a suite of discretionary solutions designed to target lower volatility, steadier returns, and sustainable cash flows—translating institutional capabilities into client outcomes.
Jing Peng, Global CEO of Olive Asset Management
During the core agenda and keynote sharing, Hui Shan, Chief China Economist at Goldman Sachs, delivered a talk titled “Global Macro: Finding the Expectation Gap,” unpacking three themes with data and models:
- United States: With hiring momentum slowing and tariffs exerting a transitory upward push on inflation, the Federal Reserve is likely to enter a rate-cutting cycle. The U.S. dollar, currently near a historical relative high, has the conditions for a moderate weakening ahead.
- Europe: Fiscal expansion and higher defense spending are supporting a marginal recovery in activity and sentiment, while reduced tariff uncertainty should enhance resilience and visibility.
- China: The economy shows a split between resilient external demand and pressured domestic demand. Exports to the U.S. face tariff headwinds but overall exports remain stable, and the property sector is still undergoing a cleanup/deleveraging process. There remains room for further renminbi internationalization.
In the panel “New Opportunities in Global Asset Allocation,” moderated by Andy Yin, Managing Director of Olive Global Private Markets, speakers outlined executable playbooks across hedge strategies, real assets, credit, and technology investing. Key takeaways included: Rox Wong, Managing Director & Co-Head of Greater China Real Assets at Macquarie Asset Management, highlighted high-quality infrastructure as a portfolio “ballast,” with renewable opportunities emerging from energy transition and AI compute demand; Xinyu Liu, CEO of ExodusPoint Singapore, underscored diversification, dynamic de-leveraging, and strict stop-loss rules to turn volatility into opportunity; Peter Seok, Vice President & Portfolio Manager at Goldman Sachs, emphasized accessing structural opportunities via top-tier managers and low-correlation, low-to-moderate volatility portfolios.
From left to right: Andy Yin, Managing Director of Olive Global Private Markets; Rox Wong, Managing Director & Co-Head of Greater China Real Assets at Macquarie Asset Management; Xinyu Liu, CEO of ExodusPoint Singapore; Peter Seok, Vice President & Portfolio Manager at Goldman Sachs
The summit convened leading experts and practitioner teams across four thematic pillars—allocation logic, public markets, the U.S. market and technology investing, and Japan real estate and tax—to translate frameworks into execution, from strategy design to portfolio construction, with a focus on practical standards that are verifiable, repeatable, and actionable.
Private Markets Across Cycles
In private credit, Michael Magee, Managing Director, Private Credit at Goldman Sachs Asset Management outlined European private credit opportunities, rate and inflation outlooks, and associated risk/return profiles. Joyce Weng, Senior Vice President, Head of Business Development – Client Solutions Group, Greater China at Macquarie Asset Management, highlighted infrastructure as a core, low-volatility asset class with stable cash flows and cross-cycle resilience, well suited for long-term allocation. On “RMB Going Global,” Jun Qian, Head of Private Equity China at Schroders, unpacked QDLP quotas, target selection, risk controls, and FX processes, offering compliant and efficient channels for global allocation by HNW and institutional clients.
Public Markets: Offense and Defense
Samuel Hui, Managing Director, Asia Pacific Global Wealth at Wellington Management presented a “discern through change” framework with a three-pronged quality screen—earnings durability, capital discipline, and moats—focusing on AI compute, industrial automation, medical innovation, and energy efficiency, and proposing a 5–8 year “core-satellite” portfolio roadmap. In hedge strategies, Yiming Zhang, Managing Director of Olive Global Public Markets (U.S.), covered risk budgeting, factor exposure, positioning, and rebalancing for style rotations. Xinyu Liu, CEO of ExodusPoint Singapore, discussed allocation and timing through the lens of bull-market progression. Cicely Sun, Managing Director & Head of Business Development, APAC at Graham Capital, introduced a three-factor model—yield curve, USD liquidity, and risk premia—implemented via equity long/short, macro rates, and commodity relative value to achieve “downside protection with upside optionality.”
U.S. Three-Pronged Allocation and Execution
Vivien Wong, Partner at HashKey, and Byron Ye, Managing Partner at Olive Partners Management, reiterated Bitcoin’s role as a hedge against fiat debasement and inflation, and noted that U.S.-led AI cycle concentrates value creation in a small cohort of leaders. Elise Huang, Managing Partner of Olive Technology Ventures, flagged a prime window to focus on AI, with an emphasis on enterprise applications to capture high-upside opportunities early. On U.S. real estate “on the eve of rate cuts,” Roy Chen, Managing Partner at Olive Real Estate, focused on U.S. multifamily and set out an entry–pricing–exit framework anchored by four drivers: persistent rental demand amid housing undersupply, Sun Belt in-migration, relative tax advantages, and industry relocation. Taken together, technology equities, digital assets, and long-duration real estate form a synergistic, three-pronged U.S. allocation framework.
Japan Real Estate and Tax Compliance
David Jiang, Vice President of Olive Japan, presented “Japan Real Estate Strategy Post-Deflation.” Against a backdrop of a weaker yen, moderate inflation, and gradual rate normalization, core cities (Tokyo–Osaka–Nagoya) are attracting accelerated foreign capital inflows supported by industrial upgrades and tourism recovery. Office and multifamily assets offer sticky rents and deleveraged, resilient cash flows, while a safe and comfortable living environment is also boosting HNWI end-user demand. On tax compliance and family governance, Noah Ye, Director, Business Tax Advisory/Private Tax Service at Ernst & Young, summarized cross-border tax essentials and common pitfalls. Kun-Cai Chen, Deputy General Manager of Glory and Editor-in-Chief of CIO Report, stressed that tax compliance is not merely a legal obligation but the strategic starting point for global asset deployment and intergenerational succession. Through lawful residency planning and robust asset-holding structures, families can build tax frameworks that meet regulatory standards, enhance transmission efficiency, and strengthen risk segregation.
Three Key Consensus Points
The summit concluded with three key consensus points:
- AI-driven “tech disinflation” is reshaping growth; converting efficiency gains into investment returns requires disciplined asset allocation and risk budgeting.
- At the intersection of rate inflections and geopolitical frictions, diversification across assets, geographies, and currencies remains the cornerstone of portfolio resilience.
- Institutionalized compliance and tax planning are prerequisites for going global—and vital to compounding over the long term.
Looking ahead, Olive will continue to partner with leading global general partners and institutions, leveraging its “AI-driven allocation engine + global research network” to deliver goal-oriented discretionary and allocation services, building resilient portfolios designed to endure across cycles.
About Olive Asset Management
Olive Asset Management (Hong Kong) Limited (“Olive”) is a forward-thinking investment firm committed to delivering innovative and customized investment solutions that help diverse investment portfolios realize their value. With a focus on long-term value creation and a deep understanding of global markets, we continue to build alternative investment portfolios by integrating strategic asset allocation with opportunistic approaches. Our domestic and overseas assets within the group under advisement and custody totalled nearly US$30 billion as of 30 June, 2025. *.
Olive believes in empowering portfolios through transparent and flexible investment strategies that prioritize long-term success. Our strategic partnerships and extensive research capabilities enable us to better navigate complex markets, and more effectively access high-quality investment opportunities. By leveraging our proprietary system for meticulous manager and strategy selection, we have developed strong expertise in managing a wide range of alternative asset classes, including private equity, credit, real estate, infrastructure, hedge funds – to ensure alignment with the long-term return and risk objectives of the portfolios we manage.
Guided by our mission rooted in professionalism, sustainability, and a diversified global perspective, Olive strives to be a place where prosperity takes root and hope takes flight.
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*The relevant data belongs to Ark Group.
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