Citi Investor Services has been picked by an asset manager specialising in emerging and frontier markets to provide a complete suite of fund services, including custody, depositary, fund administration and transfer agency, for its recently-launched China A-Shares Fund.
The fund of asset manager East Capital group is a sub-fund under the East Capital (Lux) SCA, SICAV-SIF umbrella fund.
The East Capital China A-Shares Fund, which invests in Renminbi-denominated A-shares listed on China’s mainland stock exchanges in Shanghai and Shenzhen, is registered in Luxembourg and already fully subscribed.
The new mandate extends Citi’s existing relationship with East Capital, for which Citi already provides fund services.
“East Capital is the first fund management firm domiciled in the Nordic region to receive a quota approval from the State Administration of Foreign Exchange under the Qualified Foreign Institutional Investor (QFII) programme,” Karine Hirn, partner and co-founder of East Capital, said.
Patrick Curtin, head of global fund services at Citi Investor Services, said that the mandate highlighted the strength of Citi’s long-term relationship with East Capital and the two firms’ joint efforts to provide investors with access to investment opportunities in mainland China.
