E Fund Management (E Fund), recently entered into a memorandum of understanding (MoU) with BBL Asset Management (BBLAM), one of the largest asset managers in Thailand.
“China is an important market for Thai investors given its close ties with Thailand, 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,” said Anak Kittivat, VP, global investment management at BBLAM
“The current valuation of Chinese equity market makes it much more appealing and with E Fund’s extensive local investment expertise in the Chinese market we aim to leverage on our QFII license to access Chinese local funds and investment products directly,” he added.
The MoU was signed by Natthapachara Chiarawongse, CEO of BBLAM and Shawn Xinrong Woo, Co-CEO of E Fund.
The partnership aims to offer investors in Thailand enhanced access to Chinese capital markets through an expanded portfolio of investment offerings and services, according to a statement by the firms.
“We are pleased to partner with BBLAM,” said Mr. Shawn Xinrong Woo, Co-CEO of E Fund, “This partnership signifies our commitment to advancing our global development strategy and underscores our dedication to providing better services for global investors.
“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,” said Xinrong Woo.
Both companies are confident that this cooperation will create synergies, broaden market access, deliver long-term and sustainable value to clients, and strengthen ties between the Chinese and Thai asset management industries.
Established in 2001, E Fund is a leading fund manager in China with close to RMB 3 trn ($421bn) of AUM, as at 31 December 2023.
BBLAM was set up in March 1992, and has AUM of about $24bnas of December 2023. It is an affiliated company of Bangkok Bank (BBL), the largest Thai commercial bank, which has a 75% holding in BBLAM.
