The Association of the Luxembourg Fund Industry (ALFI) and the Asset Management Association of China (AMAC) have inked a Memorandum of Understanding (MoU) to boost business relationships between the two nations.
The MoU will further pave the way for deepening the cooperation between the two associations while creating mutually beneficial opportunities for the fund industries in both countries, ALFI said.
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The agreement covers three main areas encompassing regular communication, information sharing and member services.
The cooperation will also include exploring the possibility to implement joint programs, such as meetings, visits and seminars and mutual assistance and the exchange of information pertaining to regulatory frameworks and investor protection practices for the funds industry.
In addition, both parties will also explore opportunities for mutual membership referral and organizing professional development events for members.
ALFI chairman Marc Saluzzi said, "We look forward to exchanging details about our expertise and best practices for the benefit of all our and AMAC’s members."
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By GlobalData"In the future, as Chinese asset managers may wish to extend their activity outside of China, Luxembourg will constitute an ideal gateway into and beyond Europe."
