Britain’s Investment Management Association (IMA) has entered into a Memorandum of Understanding (MoU) with the Asset Management Association of China (AMAC) in a bid to enhance mutual understanding and further relationship.
The MoU was signed in London by Zhong Rongsa, deputy chairperson of AMAC, and Helena Morrisey, chairperson of IMA, representing both the countries asset management sectors.
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IMA said that the pact marks a formal understanding between the two trade bodies that they will collaborate in the furtherance of their shared interests and goals.
The deal reflects the increasing importance of the asset management sector in the world’s second largest economy.
Daniel Godfrey, CEO of IMA, said:" The Chinese market is important both as a place for us to invest and as a market for our members to serve future generations of savers. We are delighted to enter into this MoU with the AMAC and we look forward to friendship and mutually beneficial cooperation in the years ahead."
Founded in June 2012, AMAC is a self-regulatory organization representing the mutual fund industry in China, which has 370 members as of May 2013.
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