HONG KONG, Feb 21, 2024 - (ACN Newswire) - On February 20, 2024, E Fund Management Co., Ltd. ("E Fund") signed a Memorandum of Understanding with Riyad Capital, to enter into an agreement to collaborate on sharing local investment expertise. The MoU was signed at the Saudi Capital Market Forum 2024 in Riyadh.
E Fund, the largest fund manager in China, is pleased to announce a new cooperation with Riyad Capital, a leading asset manager in Saudi Arabia. This collaboration aims to combine the strengths and expertise of both organizations to enhance investment opportunities and create long-term, sustainable value for clients.
The cooperation will leverage both firms' extensive knowledge of respective local markets and investment strategies. Through this cooperation, clients of both E Fund and Riyad Capital will have access to a broader range of investment products and services.
Xiaoyan Liu, Co-Chairman of the Board and CEO of E Fund stated, "The high level of openness of China's capital market provides opportunities for the international development of Chinese fund management companies. E Fund has been consistently advancing its global development strategy, and this partnership with Riyad Capital represents a significant step forward. With this partnership, we will enhance our investment capabilities in Saudi Arabia and the broader region and expand our product offerings and services, while also establishing a bridge for investors in Saudi to understand and allocate to China."
"We are pleased to partner with E Fund Management," said Abdullah Alshwer, Riyad Capital's CEO. "This collaboration allows us to tap into their extensive Asia network and access to their products, while also sharing our local investment expertise. In line with the KSA Vision 2030 through the Financial Sector Development Program we will be able to offer global investors access to Saudi capital markets and similarly offer our local clients a wider range of investment opportunities in different global markets."
Both companies are confident that this cooperation will foster financial innovation, strengthen investment capabilities, and ultimately benefit their clients, who will gain access to a more comprehensive suite of investment solutions. By combining their local expertise and presence, E Fund and Riyad Capital are poised to create a mutually beneficial relationship.
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