Deutsche Bank in Mainland China will provide RQFII custody services for the fund, which will initially comprise four sub-funds with four asset classes per subfund investing in Chinese equity and fixed income. Deutsche Bank Asset & Wealth Management (Deutsche AWM) helped to set up the SICAV fund under UCITS IV regulations and will provide ongoing fund administration, transfer agency and master custody services for the fund. UCITS IV is a globally recognised fund structure enabling full passporting within the European Union and beyond.
Based in Hong Kong, Fullgoal Asset Management (HK) Ltd is a wholly owned subsidiary of Fullgoal Fund Management Co., Ltd. The company already manages a number of RQFII funds investing into Mainland China equity and fixed income markets and is ranked #1 in Mainland China in mutual funds for institutional investors*.
Mark Law, Director, Co-Head of Investor Services Sales, Asia Pacific, Global Transaction Banking at Deutsche Bank, 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."
Mark Smallwood, Managing Director, Asia Pacific Head of Franchise Development & Strategic Initiatives at Deutsche AWM, said: "For APAC regional players wishing to access European investors, a Luxembourg-based investment vehicle is an ideal solution, and as the leading European-centric global universal Hong Kong bank, 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."
Michael Chow, Managing Director, Head of International Business at Fullgoal Asset Management (HK) Ltd, added: "Investors now have wide range of opportunities to establish asset allocations in relation to China – the world's second largest economy. We believe that our offerings provide new investment avenues for global investors, who can benefit from our strong local market insight and expertise. As Fullgoal expands into new markets in Europe, we are pleased to be partnering with Deutsche Bank."
--www.theasianbanker.com (Nov 23, 2015 )--