Paragon Capital Management, a Singapore-based multi-asset manager, and Thailand’s Wise Asset Management have announced a partnership to collaborate on investment products between the two markets.

The firms signed a memorandum of understanding (MOU) on Wednesday that sets out a framework for the collaboration, betting on growing demand among wealthy Thais for investments beyond their home market.

The tie-up could include client introductions and access to selected investment products, as well as joint investor initiatives and the sharing of market insights, the firms said.

Paul Lee, Paragon’s co-founder, chief executive officer and chief investment officer said: “Thailand is an important market in Asia, supported by a growing community of sophisticated investors and families seeking broader investment opportunities.”

“Our proposed collaboration with Wise creates a platform to connect our investment capabilities with eligible investors in Thailand, while exploring opportunities for our clients to benefit from Wise’s local market expertise and capabilities.”

He said the firm would proceed “in a disciplined manner,” with a focus on regulatory compliance and product suitability.

Woranun Thaworanun, Wise’s chief executive officer, said: “Singapore is a natural partner for Thailand as more Thai investors look to overseas markets for diversification and secure long-term wealth planning.”

“This MOU brings together Wise’s licensed platform and local market expertise in Thailand with Paragon Capital Management’s multi-asset investment capabilities.”

Paragon Capital Management manages S$1.5bn ($1.2bn) in assets across global equities, fixed income and alternative strategies, with offices in Singapore and Hong Kong.