E Fund Management Co., Ltd. (E Fund), the largest fund manager in China, and Riyad Capital, a leading asset manager in Saudi Arabia, have announced a new partnership to collaborate on sharing local investment expertise. The partnership aims to enhance investment opportunities and create long-term, sustainable value for clients.
The Memorandum of Understanding (MoU) was signed on February 20, 2024, at the Saudi Capital Market Forum 2024 in Riyadh. 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.
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, E Fund will enhance its investment capabilities in Saudi Arabia and the broader region and expand its product offerings and services, while also establishing a bridge for investors in Saudi to understand and allocate to China.
A Win-Win Situation for Both Sides
Riyad Capital, on the other hand, is pleased to partner with E Fund Management, as this collaboration allows it to tap into E Fund’s extensive Asia network and access to its products, while also sharing its local investment expertise. In line with the KSA Vision 2030 through the Financial Sector Development Program, Riyad Capital will be able to offer global investors access to Saudi capital markets and similarly offer its 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.
A Promising Outlook for the Future
The partnership between E Fund and Riyad Capital is not only a milestone for the two organizations, but also a positive sign for the future of the global investment industry. As the world becomes more interconnected and interdependent, cross-border collaborations and exchanges are essential for enhancing mutual understanding and trust, as well as creating value and opportunities for all stakeholders.
The partnership also reflects the growing importance and potential of the Saudi and Chinese markets, which are both undergoing rapid economic and social transformations. Saudi Arabia, as the largest economy in the Middle East and North Africa region, has been pursuing a diversification and modernization agenda under its Vision 2030, which aims to reduce its dependence on oil and increase its competitiveness and attractiveness as an investment destination. China, as the second-largest economy in the world and the largest trading partner of Saudi Arabia, has been opening up its capital market and promoting its Belt and Road Initiative, which seeks to enhance connectivity and cooperation among countries along the ancient Silk Road.
The partnership between E Fund and Riyad Capital is expected to contribute to the realization of these ambitious visions, as well as to the development and prosperity of both countries and regions.
