Santa Fe-headquartered company signs memorandum of understanding to form strategic partnership.
Thornburg Investment Management has signed a memorandum of understanding (MoU) with Hong Kong-based BIPPO Group to launch a new project aimed at investors in Greater China.
The strategic partnership marks the latest in a long line of US and European asset managers seeking to gain a foothold in the Chinese market through tie-ups and joint ventures with companies in the region.
Thornburg IM and BIPPO Group undertook an official signing of the MoU on 3 June at the Asian group’s Hong Kong headquarters. The deal will involve providing access to their respective wealth and asset management offerings.
As part of the deal, Thornburg will tailor risk and return expectations and provide investment portfolio construction and guidance on product strategy to BIPPO’s family trust clients.
In addition, Thornburg will use its capabilities to offer BIPPO clients competitive arrangements related to capital requirements for account openings and a preferential management fee schedule.
This will include establishing investment guidelines, providing investment management and advisory services, offering market insights and advice, as well as carrying out regular portfolio reviews and rebalancing.
In the future, BIPPO and Thornburg will explore further opportunities in private wealth structuring, investment portfolio customisation and managed account investment service.