Merian-Ping An deal paves way for UK fund manager to distribute in China

Merian Global Investors, the UK-headquartered asset management business, has signed a deal with Ping An of China Asset Management, paving the way for Merian to distribute its funds in China.

The MoU is groundbreaking in the sense that it is the first time that Chinese and British fund managers have joined forces in such manner.

Merian Global Investors began working with Ping An earlier this year to manage the Merian China Equity Fund. However, the agreement marks the formal commencement of a new strategic partnership between the two businesses.

Merian Global Investors was launched in September Richard Buxton as part of a management buyout of Old Mutual Global Investors, as reported by International Investment.

Under the terms of the deal, both parties will aim to work together to explore business development opportunities in the fund distribution, marketing and investment advisory space, including knowledge sharing and training.

‘Strategic relationship’
Merian Global Investors said the deal aims to further the alliance between the businesses.

Richard Buxton, chief executive of Merian Global Investors said:“We’re thrilled to have entered into a new alliance with Ping An Asset Management (Hong Kong). Growing our presence in Asia is one of our core strategic aims and the opportunity to partner with one of China’s largest and most respected financial services businesses is incredibly exciting.

“We believe that access to the local knowledge and investment advisory expertise of a specialist Chinese asset manager will be of great benefit to our clients. I have every confidence this will be a highly-rewarding partnership and I look forward to sharing more details on our joint activity in due course.”

Hoi Tung, chairman of Ping An Insurance Overseas Holding, added, “This strategic relationship marks the beginning of our successful transformation to becoming a truly third-party asset manager from purely managing our in-house insurance capital by leveraging our strength in local market knowledge and investment expertise. We are very excited about entering this strategic cooperation with Merian Global Investors and we look forward to continuing to forge a deeper and stronger relationship in the future.”

Andrew Heyn, British consul-general to Hong Kong and Macao, said: “I believe that the partnership Merian Global Investors and Ping An Asset Management are embarking upon today is an excellent demonstration of the developing interest between these nations’ corporations and how this can benefit their clients and contribute to their future success.”

ABOUT THE AUTHOR
Christopher Copper-Ind
Christopher Copper-Ind is Publisher and Editor of International Investment. His previous publishing experience focused largely on the Middle East and emerging markets, and he was Editorial Director of The Business Year, based in Istanbul, for three years before moving back to London in 2017. He is the author of How to Negotiate, to be published by Macmillan in 2019.

Read more from Christopher Copper-Ind

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