Chinese asset manager Da Cheng International Asset Management (DCIAM) has appointed Citis Securities and Fund Services business as fund administrator of its Hong Kong authorized funds. This will be asset managers first public fund launch in Hong Kong and one of the first public funds launched in the city by a Chinese asset manager.
Citi will provide a range of fund and custody services including trustee, fund administration, transfer agency, global custody services and securities lending solutions, enabling DCIAM to benefit from open distribution opportunities in Hong Kong and DMA in the US.
David Russell, regional head, Asia Pacific, Securities and Fund Services, Citi, said:”We are extremely pleased to have been awarded this mandate by Da Cheng International Asset Management. Citi is committed to the Chinese asset management sector and this mandate will allow us to showcase our focus, product capabilities, distribution network, and demonstrate our market leadership.
Doris Lian, CEO of DCIAM said, Da Cheng is committed to our clients and giving them the right products both in this region and overseas. We need a strong partner to provide us with sophisticated and comprehensive fund services. Citi is a good choice for us, with their global network and local expertise, and we look forward to working with them further to develop our business.”
(JDC)