China's E Fund and Brazil's IAM Forge Strategic Financial Partnership

E Fund Management Co., Ltd., China's largest mutual fund manager, and Itau Unibanco Asset Management Ltd., Brazil's leading private asset manager, have agreed to enhance future collaboration. This partnership aims to deepen financial cooperation and boost sectoral development between China and Brazil, in line with their growing bilateral relationship.

E Fund Management Co., Ltd. (E Fund), China's biggest mutual fund manager, and Itau Unibanco Asset Management Ltd. (IAM), Brazil's top private asset manager, have reached a consensus to enhance collaboration across multiple fronts.

This development comes as China and Brazil's bilateral relationship sees substantial growth. The China-Brazil Financial Forum held in March underscored the strategic importance of their 50-year diplomatic ties, pushing calls for fresh opportunities and innovative collaborations.

E Fund, managing over RMB 3.3 trillion (USD 464 billion), provides investment solutions to a diverse clientele, including central banks and sovereign wealth funds. CEO Xiaoyan Liu stated that cooperation with IAM will diversify product offerings and help investors in Brazil understand the Chinese market. IAM, with over USD 170 billion AUM, remains a key player in Latin America's financial sector. Head of IAM Global Investment Management, Carlos Augusto Salamonde, noted that the partnership aligns with their strategy of geographic and asset diversification and international expansion.

While economic cooperation prospects between China and Brazil are broad, both E Fund and IAM are confident that this partnership will leverage their strengths to foster bilateral financial cooperation and high-quality trade development.

(With inputs from agencies.)