Noah Holdings, the Chinese wealth management firm that caters to high net worth clients, reported a 94.3 per cent rise in net revenue for the first quarter of 2013 to $32.6 million, compared to the previous year.

The increase was driven by strong performances across the board. Income from operations went up by a whopping 352.1 per cent from the previous corresponding period in 2012 to $11.9 million, while net income attributable to Noah shareholders grew 251.6 per cent to $9.6 million.

As of 31 March, the company's total number of registered clients increased by 42.9 per cent year-on-year to 42,590, which includes 40,915 registered individualclients, 1,558 registered enterprise clients and 117 wholesale clients. Active customers during the first quarter alone were 1,778 - an 86.8 per cent rise from the same period in 2012.

The aggregate value of wealth management products distributed by Noah in Q1 was around $1.4 billion, or 63.1 per cent higher than in Q1 2012. Of this value, fixed income products accounted for 74.9 per cent, private equity fund products 18.8 per cent, while the remaining 6.3 per cent was attributed to mutual funds, private securities investments and investment-linked insurance products.

The average transaction value per client in the quarter was around $0.8 million. This is a 12.7 per cent drop from 2012, but the company says this is due to changes in the product mix as clients purchased mutual funds and more fixed income products.

To-date, Noah Holdings has 56 branches and 452 relationship managers.