BOCHK AM enters strategic partnership with Fubon
05 November 2012
News, Asia, China, Hong Kong, Taiwan
By Asia Asset Management
BOCHK Asset Management, the wholly-owned asset management affiliate of Bank of China (Hong Kong), signed a memorandum of understanding with Taiwan’s Fubon Asset Management on November 1 with regard to a strategic partnership for an exclusive cooperation in investment advisory and business development in Taiwan.
Richard Tsai, vice chairman of Fubon Financial Holding, said, “Fubon has been very active in exploring the markets in China, Hong Kong and Taiwan over the past few years. In the asset management business, Fubon AM was the first financial institution that acquired a QFII quota from the Mainland in 2011 to issue the first A-share ETF on the Taiwan Stock Exchange.”
“Under the strategic partnership, Fubon AM plans to appoint BOCHK AM as its overseas investment advisor or to become the sole fund distributor in Taiwan for the investment products offered by BOCHK AM,” said Mr. Tsai.
David Wong, deputy chief executive of BOCHK, said, “Fubon Financial Holding enjoys strong brand franchise for its innovation and commitment to promoting the development of RMB business.”
“Under this strategic partnership, both institutions will be able to combine their unique strengths to make a breakthrough in the financial market of Taiwan. We will deliver new investment solutions through Fubon’s extensive distribution networks, allowing Taiwanese investors to invest in the economic growth of China.”
Au King Lun, chief executive officer of BOCHK AM, said, “Through this new strategic partnership, we hope to work closely with Fubon AM on RMB-related investment products, providing Taiwanese investors with an opportunity to maximise their potential returns.”
“Leveraging our strategic partnership with Fubon AM, we will contribute our proven investment expertise and sound knowledge in the RMB bond fund market to the development of the investment products specially tailored for Taiwanese investors,” Dr. Au added.
More News >
Discuss: BOCHK AM enters strategic partnership with Fubon