The Irish Funds Industry Association (IFIA) has inked a memorandum of understanding (MOU) with the Asset Management Association of China (AMAC) to further cooperation between respective industries in China and Ireland.
The deal intends to boost greater international capital flows which will open up better opportunities for investors, as well as enhance growth of industries in the two countries.
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Pat Lardner, CEO of the IFIA, commented: "The agreement with AMAC recognises the increasing globalisation of the international asset management and investment fund industries. It serves as confirmation of the increasing interest that investors around the world have in gaining access to Chinese investment opportunities and the role in which global fund domiciles like Ireland can play in supporting the internationalisation of Renminbi, and Chinese Asset Managers. We look forward to exploring a range of areas where we might co-mutually benefit."
The agreement focuses on industry communication, information sharing, and reciprocal relationships.
At the same time, the MoU also includes an agreement which aims to promote mutual assistance and exchange of information in various aspects of the asset management sector, including areas such as regulatory developments, and sound practices to improve investor protection.
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