China Life Franklin Asset Management Co., Ltd. (CLFAMC) is a joint-ventured professional asset manager from the China Life Group and Franklin Templeton Investments Group. CLFAMC was found in 2006, licensed under The Hong Kong Securities and Futures Commission (SFC) to carry out the regulated activity of Asset Management and Advising on Securities. Under the umbrella of China Life Insurance and Franklin Templeton Strategic Investment, we became the first sino-overseas insurance background joint-ventured asset manager in Hong Kong. The Company was regarded as a pioneer in China's insurance industry focusing on global investment. With strong support from China Life Insurance Group and its subsidiaries, the Company was seen as a vanguard of China Life's globalization strategy. During the past decade, the Company have accumulated extensive experience in global investment and asset allocation, built up an internationally competitive investment team. We have developed long-term value-oriented investment philosophy, and supported insurance business development through solid asset management. Despite several financial crises over the past decade, China Life Franklin is trusted to provide long term value creation on behalf of clients, with AUM growing rapidly at a Compound Annual Growth Rate over 30%. By October 2017, the Company's AUM exceeded HKD210 billion, ranked No.1 among Chinese-funded asset managers in Hong Kong. In addition to entrusted funds management businesses, the Company has been vastly expanding its third-party business since 2012, and the increasing amount of AUM is a great testimony to proof our investment capability. At present, the Company's third-party business contributes into near 50% of our revenue.
