Merian Global Investors, the £35bn UK fund manager spun out of Old Mutual by Richard Buxton, has signed a sales tie-up with Ping An, one of China’s largest insurers.

The agreement forms a “business alliance” between Merian and Ping An’s Hong Kong funds subsidiary, Ping An of China Asset Management. It follows a deal in March in which Merian outsourced the management of its China Equity fund to Ping An.