Citi to provide securities lending for Chinese asset manager
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Citi to provide securities lending for Chinese asset manager 26 November 2011Hong Kong Reporter: Anna Reitman
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Citi’s Securities and Fund Services will be providing securities lending solutions for Da Cheng International Asset Management (DCIAM), one of the top ten largest firms in China.
This is DCIAM’s first public fund launch in Hong Kong and will be one of the first public funds
launched in the city by a Chinese asset manager.
Under the front-to-back office fund administration mandate, Citi will provide a range of securities services to manage DCIAM’s Hong Kong-authorised funds, including securities lending solutions, fund administration, transfer agency, global custody services and trustee services.
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."
Citi provides mainland fund managers with both fund distribution opportunities in Hong Kong as well as direct market access in the US.
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