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[Introduction] E Fund Management had in-depth exchanges with Brazil's second largest asset management company and reached a consensus on further cooperation in the future

China Fund News reporter Fang Li and Sun Xiaohui

The overseas expansion of public funds is accelerating!

Following the signing of a memorandum of cooperation with Saudi Arabia’s Riyadh Capital in late February this year, industry giant E Fund Management recently signed a memorandum of cooperation with Brazil’s second largest asset management companyItaú Asset ManagementAfter in-depth exchanges, both parties reached a consensus on further business cooperation in the future.

This also means that the overseas expansion of the public fund industry will expand in the future. In recent years, the domestic public fund industry has accelerated its pace of opening up to the outside world. For example, the first batch of Saudi ETFs were launched this year, and the GEM 50ETF entered the European market. Fund companies' overseas expansion business has blossomed in many places.

E Fund Management and Brazil's Itau Asset Management held in-depth exchanges

Jointly promote China-Pakistan financial cooperation

As the 50th anniversary of the establishment of diplomatic relations between China and Brazil approaches, the domestic public offering industry is also actively promoting China-Brazil financial cooperation.

It is understood that recently, E Fund Management had in-depth exchanges with Itaú Asset Management, the second largest asset management company in Brazil, and the two sides reached a consensus on further business cooperation in the future.

Itau Asset ManagementOne of the largest banks in Latin Americaitaú united bancoIts asset management company can trace its history back to 1957, when it launched Brazil's first equity mutual fund. Today, with more than 65 years of history, Itaú Asset Management is still at the forefront of Latin American finance, with more than $170 billion in management scale and a full range of products, including ETFs and other listed funds, fixed income and private credit products, and a multi-strategy investment platform operated by more than 120 investment managers. Itaú Asset Management has offices in Sao Paulo, Rio de Janeiro, New York, Miami and Santiago.

In recent years, China-Pakistan relations have maintained a good momentum of development. In March this year, the first China-Pakistan Financial Forum was successfully held. During the discussion, all parties attending the forum unanimously stated that they would take the 50th anniversary of the establishment of diplomatic relations between China and Pakistan as an opportunity to open up new ideas, innovate models, and further expand cooperation in emerging fields.

Liu Xiaoyan, Chairman (Co-Chairman) and General Manager of E Fund Management, said: "Against the backdrop of China's high-level opening-up of its capital market, E Fund Management is accelerating its globalization strategy. This cooperation and exchange with Itaú Asset Management will help E Fund Management provide more diversified products and better services to investors, and also build a bridge for investors in Brazil and other regions to understand and invest in China. In the future, we hope to explore more possibilities for cooperation with Itaú Asset Management."

Carlos Augusto Salamonde, Global Investment Management Officer of Itaú Asset Management, said: "This cooperation with E Fund Management is in line with Itaú Asset Management's strategic plan to seek the best investment opportunities for its clients and pursue the diversification of investment regions and investment targets. It will help Itaú Asset Management expand the investment scope of its products and strategies and enhance its international influence."

China-Brazil economic cooperation has broad prospects. E Fund Management and Itawu Asset Management will give full play to their respective local advantages and professional capabilities, deepen bilateral financial cooperation, and promote the high-quality development of China-Brazil economic, trade and investment.

Actively "going out" and "bringing in"

Since the beginning of this year, the domestic public offering industry has accelerated its pace of opening up to the outside world, and fund companies' "going overseas" business innovations have continued to be implemented.

Taking ETF interconnection as an example, in recent years, the China Securities Regulatory Commission has successively opened up ETF interconnections between China and Japan, Shenzhen and Hong Kong, Shanghai and Hong Kong, and China and Singapore, and the two-way efforts of "going out" and "bringing in" have continued to break through.

Recently, the first domestic ETFs to invest in the Saudi Arabian market, Huatai-PineBridge CSOP Saudi Arabia ETF (QDII) and China Southern Fund CSOP Saudi Arabia ETF (QDII), were officially listed. The first batch of products adopts the form of cross-listing between Shanghai and Hong Kong. By investing in CSOP Saudi Arabia ETF, the FTSE Saudi Arabia Index can be closely tracked, opening the door to the Saudi Arabian capital market for domestic investors.

Chinese indices are also constantly "going global". On March 20, the Phillip Capital-Huatianfu MSCI China A50 Connectivity ETF, jointly launched by China Universal Asset Management and Singapore's comprehensive asset management institution Phillip Capital, was listed on the Singapore Exchange. This is also the first ETF listed in Singapore that tracks the MSCI China A50 Connectivity Index.

In June, Invesco registered and established the UCITS ETF in Ireland to track the ChiNext 50 Index, and it was officially listed on five exchanges including the Dublin Stock Exchange in Ireland, the London Stock Exchange in the UK, the Deutsche Börse Group, the Swiss Stock Exchange and the Italian Stock Exchange, adding another example of Chinese indices "going global".

Internationalization has become an important strategic direction for the development of the fund industry. An industry insider said that the Central Financial Work Conference proposed that we should adhere to the equal emphasis on "bringing in" and "going out", steadily expand the institutional opening of the financial field, enhance the convenience of cross-border investment and financing, and attract more foreign financial institutions and long-term capital to develop and develop businesses in China. In terms of the internationalization of public ETFs, the two-way layout strategy of "bringing in" and "going out" is mainly adopted. On the one hand, we "bring in" high-quality overseas assets and actively launch cross-border ETF products to provide domestic investors with opportunities to invest overseas; on the other hand, we let domestic high-quality assets "go out", promote the internationalization of domestic indexes, and provide overseas investors with opportunities to invest in high-quality Chinese assets.

Editor: Captain

Review: Xu Wen

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