Fund industries of Ireland and China to work closer together

MergingThe fund industry associations of Ireland and China have vowed to encourage and support greater international capital flows, which they say will result in greater opportunities for investors as well as growth in both countries. The Irish Funds Industry Association (IFIA) and the Asset Management Association of China (AMAC) say they aim to promote closer co-operation and better understanding between their industries. A recently signed memorandum of understanding highlights industry communication, information sharing and reciprocal relationships as key areas of interest. It also includes an agreement to promote mutual assistance and the exchange of information, covering all aspects of the asset management industry, from regulatory developments to sound practices to improve investor protection. Pat Lardner, chief executive of the IFIA, says the agreement serves as "confirmation of the increasing interest that investors around the world have in gaining access to Chinese investment opportunities and the role in which global fund domiciles like Ireland can play in supporting the internationalisation of renminbi, and Chinese asset managers". Lardner adds: "In our engagement with AMAC, its members and the authorities in China, it is clear that there are significant development opportunities which both industries can benefit from." ©2014 funds europe

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