Merian Global Investors has entered an agreement with Ping An of China Asset Management (Hong Kong) Company Limited, an asset management company the wholly-owned subsidiary of Ping An Insurance (Group) Company of China, Ltd. that is based in Hong Kong, as the firm starts to targets expansion into Asia.
Merian Global Investors is an asset management business that is based in London. Lasy Tuesday morning, it agreed on a Memorandum of Understanding with Ping An.
It is the first agreement of its type that is signed by both organizations. It demonstrates the developing openness and consequent benefits of strategic relationships between both of the parties. Under the terms of the MOU, both of the parties will aim to work together in order to explore opportunities for business development in marketing, fund distribution, and investment advisory space, including training and knowledge sharing.
Ping An already manages the Merian China Equity Fund after it was outsourced last March.
Richard Buxton, the chief executive of Merian Global Investors, stated: “We’re thrilled to have entered into a new alliance with Ping An Asset Management.”
He added: “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.
He continued: “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. I have every confidence this will be a highly-rewarding partnership and I look forward to sharing more details on our joint activity in due course.”
Hoi Tung, the chairman of Ping An Insurance Overseas Holding, stated: “This strategic relationship marks the beginning of our successful transformation to becoming a truly third-party asset manager from purely managing our in-house insurance capital by leveraging our strength in local market knowledge and investment expertise.”