Riyad Capital, China's E Fund sign MoU to share local investment expertise, enhance mutual investment capabilities

Signing ceremony

Riyad Capital signed a Memorandum of Understanding (MoU) with E Fund Management Co., Ltd., to potentially enter into an agreement to collaborate on sharing local investment expertise.  The MoU was signed at the Saudi Capital Market Forum 2024 in Riyadh.

In a statement to Argaam, Riyad Capital, a leading investment management and provider of investment solutions in Saudi Arabia, said this collaboration aims to combine the strengths and expertise of both organizations to enhance investment opportunities and deliver superior results for clients. It will leverage both firms' extensive knowledge of respective local markets and investment strategies and enable clients of both entities to have access to a broader range of investment products and services. 

"We are pleased to partner with E Fund Management. 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,” said Abdullah Alshwer, Riyad Capital's CEO.

Xiaoyan Liu, Co-Chairman of the Board and CEO of E Fund stated that 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.

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, Riyad Capital and E Fund Management are poised to create a mutually beneficial relationship.

Established in 2001, E Fund Management is a leading comprehensive fund manager in China with close to RMB 3 trillion (USD 421 billion) under management. It offers investment solutions to onshore and offshore clients, helping clients achieve long-term sustainable investment performances.