E Fund Management and Itau Unibanco Asset Management, leading institutions in China and Brazil respectively, have announced plans to strengthen their collaboration. This strategic partnership marks a significant step towards deepening financial cooperation between the two nations, building on the burgeoning bilateral relationship.
Recent years have witnessed a positive upswing in China-Brazil ties. The inaugural China-Brazil Financial Forum, held in March, highlighted the mutual benefits of enhanced economic collaboration, particularly in light of the 50th anniversary of diplomatic relations between the two countries.
E Fund, China's largest mutual fund manager with over RMB 3.3 trillion (USD 464 billion) under management, provides a range of investment solutions to both domestic and international clients. With a focus on long-term, sustainable returns, E Fund serves a diverse client base, including central banks, sovereign wealth funds, and major corporations.
Xiaoyan Liu, Co-chairman of the Board and CEO of E Fund, expressed enthusiasm for the partnership: "As China's capital market opens up, E Fund is accelerating its global expansion. This collaboration with IAM will enable us to offer a wider array of products and services to our investors, while providing a bridge for investors in Brazil and the wider region to access the Chinese market. We look forward to exploring numerous opportunities for collaboration with IAM."
IAM, the asset management arm of Itau Unibanco, one of Latin America's largest banks, boasts a rich history dating back to 1957, when it launched Brazil's first equity mutual fund. With over USD 170 billion in assets under management, IAM offers a comprehensive suite of products, including exchange-traded funds (ETFs), fixed income and private credit instruments, and a multi-strategy platform managed by over 120 portfolio managers. The company has a presence in Sao Paulo, Rio de Janeiro, New York, Miami, and Santiago.
"This partnership with E Fund aligns with IAM's strategic aim to identify the best investment opportunities for our clients across geographical and asset classes," said Carlos Augusto Salamonde, Head of Global Investment Management at IAM. "It also supports our international expansion, broadening the scope and reach of our offerings and strategies."
The collaboration between E Fund and IAM is expected to leverage the strengths and expertise of both institutions, fostering deeper bilateral financial cooperation and promoting high-quality development in trade and investment between China and Brazil. This strategic alliance signifies a shared commitment to unlocking the vast potential of the China-Brazil economic partnership.