China’s largest asset manager E Fund Management Co Ltd and Thailand’s BBL Asset Management are planning a partnership to offer investors in Thailand access to Chinese investment products.
According to the companies, investors in Thailand have shown “high enthusiasm” for China investments by investing more than US$4.3 billion in China funds.
“However, the presence of Chinese onshore managers is not yet significant in the Thai market,” the asset management firms say in a statement on March 14 after signing a memorandum of understanding for the partnership.
Through the collaboration, they aim to provide Thai investors with “enhanced access to the Chinese capital market through an expanded portfolio of investment offerings and service”.
Executives of BBL, which had $24 billion of assets under management as of end-2023, hailed the move, with Chief Executive Officer Natthapachara Chiarawongse saying the company’s China product offering will be enhanced and investors will benefit from E Fund’s local insights and investment capabilities.
BBL vice president Anak Kittivat says China is an important market for Thai investors.
“As we expand our investment scope into China, we believe that now is the time to increase and bolster the relationship with local asset managers such as E Fund to improve and expand on product offerings and performances through a local perspective,” he says.
For E Fund, which manages around $421 billion of assets, the partnership “signifies our commitment to advancing our global development strategy and underscores our dedication to providing better services for global investors”, according to co-CEO Shawn Xinrong Woo.
“By forging this partnership, we will strengthen our presence in Thailand and the broader Southeast Asian region and provide Thai investors insight and access to the Chinese market,” he says.
