Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013

7086

BNY Mellon Asset Servicing selected as global custodian for new QDII Fund

RELATED TOPICS​

 BNY Mellon Asset Servicing has been selected by China Construction Bank (CCB) as the global custodian for the upcoming QDII fund in China to be launched by Bank of China Investment Management Co (BOCIM).  

The new fund will be called BOC Global Strategic Fund (FOF) and is expected to launch in March 2011. BOCIM is a joint venture fund management company between Bank of China Co and BlackRock, Inc.

"The pace of QDII approvals is expected to continue in 2011," says Chong Jin Leow, head of Asia, BNY Mellon Asset Servicing. "This is welcome news. With QDIIs outperforming domestic equity funds in 2010 for the first time since the financial crisis, thanks to an improving global economy, it is likely that more Chinese will seek to increase their international exposure via QDIIs in 2011."

BNY Mellon was awarded the very first global custody mandate for a QDII fund in 2007 and today continues to be the leader with the largest market share in this funds segment in China.  

Leow, adds: "As Chinese asset managers continue to diversify their portfolios through increased investment overseas, demand for global custody and related services from institutions like BNY Mellon is on the rise.  We are a strong partner to Chinese asset managers, bringing our global experience and deep understanding of the infrastructure needed for QDIIs to help them achieve their international growth ambitions."

BNY Mellon has had a presence in mainland China for over 15 years with branches in Shanghai and Beijing. BNY Mellon provides a wide variety of products and services to Chinese institutional investors including asset management, asset servicing, treasury services and depositary receipts.

Latest News

Brown Brothers Harriman & Co. (BBH) have announced a new automated liquidity management tool (“LMT”)..
Pantheon, a specialist global private markets investor, and iCapital, the global fintech platform, have announced..
Data from Houlihan Lokey’s MidCapMonitor showed that UK sponsor-backed financing activity significantly increased YoY in..

Related Articles

Frozen soap bubble
From the end of this month, the UK’s Sustainability Disclosure Requirements (SDR) regime comes into force which the Financial Conduct Authority says has a simple aim: “Financial products that are marketed as sustainable should do as they claim and have the evidence to back it up.”..
From the end of this month, the UK’s Sustainability Disclosure Requirements (SDR) regime comes into force which the Financial Conduct..
Global ESG Investing
On May 15 Florida’s Republican Governor Ron DeSantis signed legislation that furthers his ongoing campaign to oppose the role of climate change and ESG factors in state policymaking...
On May 15 Florida’s Republican Governor Ron DeSantis signed legislation that furthers his ongoing campaign to oppose the role of..
Trends
The trend to buyout among the UK’s smaller defined benefit (DB) schemes continues with a slew of new sub GBP100 million deals announced this month alone...
The trend to buyout among the UK’s smaller defined benefit (DB) schemes continues with a slew of new sub GBP100..
Different flavours
In what is believed to be the first survey of its kind in the UK market, Nedgroup Investments, the investment-led, multi-boutique global asset manager with over USD20 billion under management, recently undertook a survey with 204 UK investment professionals, seeking insights into their perceptions and attitudes towards boutique asset managers...
In what is believed to be the first survey of its kind in the UK market, Nedgroup Investments, the investment-led,..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by