AIMA signs MoU with Insurance Asset Management Association of China (IAMAC)
Published: 20 December 2017
The Alternative Investment Management Association (AIMA), the global representative of alternative investment managers, has signed a Memorandum of Understanding (MoU) with the Insurance Asset Management Association of China (IAMAC), a self-regulatory organisation for China’s national insurance asset management industry.
AIMA and IAMAC signed an agreement in Beijing that outlines areas of cooperation and collaboration, including educational programmes and joint events. The MoU further strengthens AIMA’s presence in China and its relationships with China’s asset management industry and its regulators.
In 2014, AIMA signed an MoU with the Asset Management Association of China (AMAC), the self-regulatory organisation for Chinese fund managers, while the following year, AIMA opened an office in Shanghai.
The MoU is the second of its kind that IAMAC has signed with a foreign association, following an agreement between IAMAC and the Institute and Faculty of Actuaries (IFoA), the professional body for UK actuaries, in 2016.
Kher Sheng Lee, Managing Director, Co-Head of APAC and Deputy Global Head of Government Affairs, AIMA, said: “The signing of the MoU with IAMAC underlines our commitment to engaging with industry professionals, regulators and policymakers in China and the APAC region. The insurance sector is of course an important source of capital for our fund manager members, both domestically and internationally, and we look forward to strengthening ties with the IAMAC and developing a constructive and collaborative relationship.”
Deyun Cao, Executive Vice President and Secretary General of IAMAC, said: “IAMAC maintains a good relationship with AIMA, and we wish to deepen the cooperation further on matters of mutual interest, including in seminars and events, research, training and education projects.
“Since its establishment in 2014, IAMAC has been playing the role as a bridge and link between the regulators and the market. We built an international platform linking the insurance sector and other financial partners. For now, IAMAC has 510 institutional members of which 39 are world renowned investment companies as special cooperative organisations of IAMAC. With the new development ideas proposed in the 19th National Congress of the Communist Party of China (CPC), the Chinese insurance asset management industry will take a more positive position in globalisation to drive a higher level of openness and cooperation. In the future, IAMAC will have more in-depth cooperation and exchanges with international financial organisations.”
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AIMA, the Alternative Investment Management Association, is the global representative of the alternative investment industry, with more than 1,900 corporate members in over 60 countries. AIMA’s fund manager members collectively manage more than $2 trillion in assets. AIMA draws upon the expertise and diversity of its membership to provide leadership in industry initiatives such as advocacy, policy and regulatory engagement, educational programmes and sound practice guides. AIMA works to raise media and public awareness of the value of the industry. AIMA set up the Alternative Credit Council (ACC) to help firms focused in the private credit and direct lending space. The ACC currently represents over 100 members that manage $350 billion of private credit assets globally. AIMA is committed to developing skills and education standards and is a co-founder of the Chartered Alternative Investment Analyst designation (CAIA) – the first and only specialised educational standard for alternative investment specialists. AIMA is governed by its Council (Board of Directors). For further information, please visit AIMA’s website, www.aima.org.
The Insurance Asset Management Association of China or IAMAC, established in September 2014, is a national self-regulatory organization of Chinese insurance asset management industry, under the supervision by China Insurance Regulatory Commission. At present, the Association has 520 institutional members from all sectors of the financial market, and 11 individual members, all of whom are renowned Chinese and foreign economists. IAMAC is to act as a bridge and link between association members and regulatory bodies with an emphasis on practical and effective services. IAMAC is committed to the cooperation across the borders, sectors, and markets. It has built connections not only with central and local governments, but also with banks, securities, trusts, funds, private funds, financial leasing companies, as well as many leading international investment companies and multilateral financial organizations. IAMAC aims to create a new landscape for the self-disciplinary services of the insurance asset management industry, and also effectively improving industry capacity in self-discipline, self-government, and self-development, and ultimately driving the stable and sound development of the industry.