Freshly rebranded asset management firm Merian Global Investors has signed a memorandum of understanding (MOU) with Ping An of China Asset Management (Hong Kong).
The MOU, signed 23 October in Hong Kong, marks the first agreement of its kind for both companies, with the strategic partnership designed to enhance the two firms’ skills and expertise for the benefit of both organisations and their respective clients.
Merian and Ping An began co-operating in March 2018, when Merian outsourced the management of its China Equity Fund to the Hong Kong-based firm.
Growing presence in Asia
The two companies will also explore business development opportunities together in the fund distribution, marketing and investment advisory fields, which will also include sharing knowledge and training.
Richard Buxton, chief executive of Merian, said: “Growing our presence in Asia is one of our core strategic aims and the opportunity to partner with one of China’s largest and most respected financial services businesses is incredibly exciting.
“We believe that access to the local knowledge and investment advisory expertise of a specialist Chinese asset manager will be of great benefit to our clients.”
Both Hoi Tung, chairman at Ping An Insurance Overseas Holding, and Andrew Heyn, British consul general to Hong Kong and Macao, expressed their confidence in the partnership as a sign of the developing interest and transformation between the two parties and their nations.
