The third largest asset manager in China and the third largest asset manager globally are ignoring the shadow of potential trade friction from the incoming Trump administration and have signed a memorandum of understanding.
E Fund Management and State Street Global Advisors (SSGA), the asset management arm of State Street Corporation, have announced the signing of a memorandum of understanding to jointly explore strategic opportunities across global markets, including China’s fast-growing fund management industry.
E Fund, was founded in 2001 and is headquartered in Guangzhou, it has grown to become one of the largest fund management corporations in China.
The partnership 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 firms said in a press release today.
“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,” said Lochiel Crafter, (pictured) Executive Vice President and Head of Asia Pacific, State Street Global Advisors.
SSGA is the third largest asset manager globally with over $2.4 trillion in assets under management. E Fund Management is the third largest asset manager in China with more than RMB 1 trillion under management and a retail distribution network covering 52 million investors.
