Citi has been mandated to provide custody, fund administration and trustee services for the launch of the China Asset Management (ChinaAMC) CSI 300 Index ETF.
ChinaAMC is a leading index fund manager in mainland China and launched Chinas first ETF, China 50 ETF, in 2004. The ChinaAMC CSI 300 Index ETF is the worlds first cross-border RMB-denominated and Remnimbi Qualified Institutional Investor (RQFII)-based ETF that directly invests in physical (nonsynthetic) A-shares, listed on the main board of the Hong Kong Stock Exchange. The RQFII is a relatively new scheme for promoting RMB internationalization in offshore markets.
The launch of ChinaAMC CSI 300 Index ETF, the worlds first RMB ETF, and its subsequent success, is of great significance to us, and we are pleased to work with a partner like Citi, on this journey, said Iris Chen, CEO of China Asset Management (Hong Kong) Limited.
(JDC(