The German Investment Funds Association (BVI), voice of the German funds industry, and the Asset Management Association of China (AMAC) have signed a memorandum of understanding to boost cooperation between Germany’s fund market and China’s asset management industry.
Announced in Frankfurt last week, the agreement set out plans for an exchange that includes “regular official mutual visits, industry conferences and seminars.” Both organisations will also give each other access to industry events, support interaction between member firms and work together on co-hosted thematic sessions.
Fund managers’ “home bias” could cost EU billions: BVI
The signing took place on the sidelines of the Sino-European Finance Summit, where Thomas Richter, BVI’s chief executive and Bu Min, AMAC’s deputy secretary general, formalised the deal.
BVI initiated the concept for the summit, reflecting Germany’s weight in Europe’s fund landscape, with more than €4.7 trillion in assets and a roster of over 600 asset managers from 40 countries. China’s asset-management sector is also accelerating and has already reached €9 trillion in assets under management.
Alongside the MoU, BVI and Bank of China published a guideline to support cross-border investment, fund distribution, and the establishment of fund companies in the Chinese market.
