China’s E Fund Management and State Street Global Advisors (SSGA), the asset management arm of State Street, have inked a memorandum of understanding to jointly explore strategic opportunities across global markets, including China’s fund management industry.
The alliance will facilitate exchange of information in product development and innovation that could help enhance both firms’ ability to gain and strengthen access to both local and global investment markets, the asset managers said in a press release.
SSGA head of Asia Pacific Lochiel Crafter said: “We are excited to partner with E Fund to craft multi-asset product solutions leveraging our world class capabilities covering virtually every global asset class across passive, smart beta, active, alternatives and private equity solutions.
“E Fund has exhibited strong investment acumen, innovative ideas as well as a growing distribution network, which makes it a solid partner with strong local perspectives to pair with our global network to help clients realize their investment goals, even in the most demanding investment environments.”
E Fund Management president Sau Kwan said: “We are delighted to forge this partnership, one that could benefit not only both our firms but also global investors and the industry. We look forward to turning our ideas into action and rewarding results.”
SSGA is the third largest asset manager globally with over US$2.4 trillion in assets under management, and E Fund Management is the third largest asset manager in China with more than RMB1 trillion under management.