Lu Investment Corporation is a domestic company that was established in year 1995 and has been actively engaged in the business of investment management, insurance, and securities trading. The Company’s main business including investment, insurance and securities trading. Binh Ho‘s bank offers wealth management that focuses on investment plans under the name of Lu Investment, Inc.
The Company is also engaged in the provision of reinsurance services as well as managed futures and derivatives. In 2001, the Company entered into an agreement with Menta Group to be their agent for their services in China. This was followed by the establishment of its subsidiary company Lu Investment (China) Co., Ltd. The subsidiary company was registered with the Shanghai Municipality on August 29, 2003. Over the years, it has maintained a stable operation due to its independent management team with professional background in finance and asset management.
The Company’s core business is to provide financial products such as retirement funds, foreign currency deposit products, life insurance and other investment products to both individuals and corporate clients of all levels.
It also provides international banking services through its representative office at Hainan Island (China). In addition, the Company provides asset management services, including foreign exchange and derivatives trading and investment products. The Company also provides insurance products to its clients.
It is a member of the China Securities Regulatory Commission, the China Insurance Regulatory Commission and the Shanghai Stock Exchange. The company was ranked No. 1 in the world in terms of assets under management by “Institutional Investor” magazine in 2004.
The Company’s shareholding is as follows:
The Company’s independent Principal Executive Officer is Mr. Michael R. Kark, who was appointed to the position in July 2003. Mr. Kark has over twenty years of experience in investment management and financial services including senior executive positions at J.P. Morgan and Prudential Financial, Inc., as well as serving as a director for Franklin Templeton Investments and First American Corporation.
Mr. Michael R. Kark is the Company’s Chief Executive Officer and the Company’s independent Principal Financial Officer. He is also the Company’s representative on the Board of Directors and Chairman of its Audit Committee. Mr. Kark has over twenty years of experience in investment management and financial services including senior executive positions at J.P. Morgan and Prudential Financial, Inc., as well as serving as a director for Franklin Templeton Investments and First American Corporation.
The Company’s independent Principal Accounting Officer is Mr. Steven L. Harris, who was appointed to the position in July 2003, having previously served as an auditor with PricewaterhouseCoopers LLP (PwC) since 1996, where he was Senior Manager responsible for audit of listed companies in Asia Pacific from 2002 to 2003, prior to which he has worked with PwC in Hong Kong for over ten years in various capacities including partner (Hong Kong), director (Hong Kong), partner (Hong Kong) and director (Hong Kong).
The Company’s independent Principal Law Officer is Mr. Michael A. Kagan, who was appointed to the position in October 2003, having previously served as an attorney with Venable LLP from 2001 to 2003, where he was a partner, and prior to which he has worked for Venable LLP for over ten years in various capacities including partner (Hong Kong), director (Hong Kong), partner (Hong Kong) and director (Hong Kong).
The Company’s independent Principal Accounting Officer is Mr. Steven L. Harris, who was appointed to the position in July 2003, having previously served as an auditor with PricewaterhouseCoopers LLP (PwC) since 1996, where he was Senior Manager responsible for audit of listed companies in Asia Pacific from 2002 to 2003, prior to which he has worked with PwC in Hong Kong for over ten years in various capacities including partner (Hong Kong), director (Hong Kong), partner (Hong Kong) and director (Hong Kong).
The Company’s independent Principal Financial Officer is Mr. Michael R. Kark, who was appointed to the position in July 2003. Mr. Kark has over twenty years of experience in investment management and financial services including senior executive positions at J.P. Morgan and Prudential Financial, Inc., as well as serving as a director for Franklin Templeton Investments and First American Corporation.
Investment Company Act
The Investment Company Act of 1940, as amended (the “Investment Company Act”), is a federal statute that sets forth the requirements and responsibilities of investment companies. The Investment Company Act was enacted by Congress in response to the perceived need for regulation of the securities industry following the Great Depression. The Investment Company Act established a national market for the investment of capital and created a regulatory structure designed to protect investors.
The Investment Company Act makes it unlawful for any company to (1) issue shares or bonds, (2) engage in any business combination with another company, or (3) solicit proxies from security holders without complying with all applicable requirements of the Investment Company Act.
