State Street Corporation, provider of financial services to institutional investors, has been appointed as global custodian and trading service provider to the Guotai Nasdaq-100 Index Fund, the first fund in China to track the performance of an overseas index.
State Street will offer a range of integrated investment servicing solutions to the fund, including global custody, fund accounting, investment compliance reporting services, foreign exchange and portfolio research and trading solutions. The fund is managed by Guotai Asset Management Co. Ltd. China Construction Bank will act as local custodian.
This opportunity is historic for Chinese investors to invest in Nasdaq-listed companies, and we are honored to be involved, said Ms. Sau Kwan, managing director and senior vice president of State Street in Hong Kong. State Streets global approach to investment servicing, research and trading, and vast experience with index-linked products makes us uniquely suited to service Chinas growing funds market.
Shelley Yang, managing director of the International Business Department and head of overseas business marketing at Guotai Asset Management said, This fund will offer new opportunities for Chinese investors, and we can think of no better partners than State Street and China Construction Bank. State Street was the clear choice for this role as we were seeking a firm with a truly global service platform, offering innovative and quality solutions.
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