GUANGZHOU, China and HONG KONG, Jan 10, 2017 /PRNewswire/ -- E Fund Management and State Street Global Advisors (SSGA), the asset management arm of State Street Corporation (NYSE: STT), announced today the signing of a memorandum of understanding to jointly explore strategic opportunities across global markets, including China's fast-growing fund management industry.
The strategic parternship will draw on the respective strengths and expertise of SSGA, the third largest asset manager globally with over US$2.4 trillion* in assets under management, and E Fund Management, the third-largest asset manager in China with more than RMB 1 trillion* under management and a strong retail distribution network covering 52 million investors.
The partnership will facilitate an exchange of information in product development and innovation that could help enhance both firms' ability to gain and strengthen access to both local and global investment markets.
"We are excited to partner with E Fund to craft multi-asset product solutions leveraging our world class capabilities covering virtually every global asset class across passive, smart beta, active, alternatives and private equity solutions," said Lochiel Crafter, EVP and head of Asia Pacific, State Street Global Advisors. "E Fund has exhibited strong investment acumen, innovative ideas as well as a growing distribution network, which makes it a solid partner with strong local perspectives to pair with our global network to help clients realize their investment goals, even in the most demanding investment environments."
Sau Kwan, President of E Fund Management, said, "As a global pioneer in indexing, smart beta solutions and award-winning active strategies, SSGA is one of the few asset managers that have the heritage, breadth and depth across markets, asset classes and approaches. We are delighted to forge this partnership, one that could benefit not only both our firms but also global investors and the industry. We look forward to turning our ideas into action and rewarding results."
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As of the end of Dec. 31, 2016, the total assets managed by the company exceed RMB 1 trillion. |
About E Fund Management
E Fund is a leading Chinese asset manager which provides a full spectrum of services. It leads positions in mutual funds, pension funds, and segregated account business in China. The company is headquartered in Guangzhou, China and has offices in Beijing, Shanghai and other major cities across the nation. It also has subsidiaries in the US and Hong Kong.
About State Street Global Advisors
For nearly four decades, State Street Global Advisors has been committed to helping our clients, and those who rely on them, achieve financial security. We partner with many of the world's largest, most sophisticated investors and financial intermediaries to help them reach their goals through a rigorous, research-driven investment process spanning both indexing and active disciplines. With trillions* in assets, our scale and global reach offer clients access to markets, geographies and asset classes, and allow us to deliver thoughtful insights and innovative solutions.
State Street Global Advisors is the investment management arm of State Street Corporation.
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Assets under management were US$2.4 trillion as of September 30, 2016. AUM reflects approx. US$40 billion (as of 9/30/2016) with respect to which State Street Global Markets, LLC (SSGM) serves as marketing agent; SSGM and State Street Global Advisors are affiliated. |
