Fullgoal Asset Management has selected Deutsche Bank as custodian and fund services and transfer agency provides for its Luxembourg-domiciled renminbi qualified foreign institutional investor scheme (RQFII) fund, one of the first of its type under UCITS IV.
Deutsche Bank in China will provide RQFII custody services, while Deutsche Bank Asset and Wealth Management, which helped to set up the fund under the UCITS IV regulation, will continue to provide ongoing services.
The fund will initially be made up of four sub-funds with four asset classes per sub-fund, each investing in Chinese equity and fixed income.
Hong Kong based Fullgoal Asset Management is a fully-owned subsidiary of Fullgoal Fund Management, a company that already manages various RQFII funds investing in to Chinese equity.
Mark Smallwood, managing director and head of franchise development and strategic initiatives in Asia Pacific (APAC) at Deutsche Bank Asset and Wealth Management, said: “For APAC regional players wishing to access European investors, a Luxembourg-based investment vehicle is an ideal solution.
He added: “We are well placed to assist our clients in executing their product, solution and platform needs utilising the full resources of the bank at our disposal.”
Mark Law, director and co-head of investor services sales for APAC for Deutsche Bank’s global transaction banking business, said: “We are pleased to be working with a successful home-grown Chinese asset management company like Fullgoal.”
“We succeeded in providing one comprehensive solution, drawing on the global expertise of several divisions of Deutsche Bank, to meet Fullgoal’s needs for their new RQFII fund.”
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