The Connecticut Hedge Fund Association (CTHFA) and the Zhejiang International Hedge Fund Talents Association (HTA) have formed a partnership.
The CTHFA represents the world’s second largest hedge fund centre, as measured by number of firms with USD1 billion-plus in assets under management.
The HTA is the largest independent hedge fund association in China, representing over 300 of China’s leading hedge funds.
The memorandum of exchange and cooperation establishes an ongoing strategic relationship between the two associations, which will work together to develop professional relationships and promote productive communication between their respective members.
The memorandum was signed in the city of Hangzhou, where representatives of the CTHFA and Greenwich Connecticut’s Economic Advisory Committee travelled as guests of the Zhejiang provincial government.
As part of the agreement the organisations will create permanent channels to facilitate open dialogue and reciprocal visits between associations, whereby members can share knowledge, expand their commercial networks and build new partnerships. As a culmination of these efforts, the associations will establish a Sino-American Investment Management Summit to institutionalise their cooperation and support these goals on an ongoing basis.
Bruce McGuire (pictured), president of the Connecticut Hedge Fund Association, says: "China is the second largest economy in the world and the engine of growth for the 21st century. US asset managers, and especially those located in Greenwich, are some of the best and brightest in the field of finance and investment management. China can benefit greatly from the talents of these proven wealth managers, from both the positive impact their investments can have on the real Chinese economy and through the superior returns generated for Chinese institutions and investors. This is the latest in a series of engagements we have had with municipalities in China and we look forward to working with the Zhejiang International HTA to promote the global hedge fund industry and to facilitate cross border growth opportunities for funds in both countries."
Tao Guo, secretary general of the Zhejiang International HTA, says: “The partnership between the Zhejiang International Hedge Fund Talents Association and the Connecticut Hedge Fund Association is a significant step towards building Sino-American hedge fund engagement. Given the increasing interest in China’s investment management industry, we intend to bring our local knowledge of China’s hedge fund industry to the global stage.”
