Leading Australian alternative investment manager QIC has signed a memorandum of understanding (MOU) with Ping An Asset Management Company (PAAMC) to look for Chinese investment opportunities in areas such as Australian infrastructure, as well as investment opportunities for Australia in China and elsewhere.

 

PAAMC has an Assets Under Management (AUM) figure of over RMB 2 trillion ($290 billion), and manages assets for sovereign wealth funds, pension funds, insurance companies, commercial banks and a variety of institutional investors.    

 

Brisbane based QIC offers global strategies based on infrastructure, real estate, private equity and multi asset investments. It has an AUM number of US$58 billion.

 

At the moment, the overseas investments of most Chinese institutions represent less than 2% of their AUM, which leaves room for significant growth as portfolios are diversified, globalised and extended into alternative investments. According to QIC and PAAMC, if Chinese institutions increased overseas investments to 20% of their AUM, this could represent approximately $2.1 trillion by 2021.

 

Shanghai based PAAMC is a subsidiary of Ping An Insurance Group, the second largest insurance company in China.