Citi Wins Mandate from East Capital
OREANDA-NEWS. April 10, 2014. Citi Investor Services has been appointed by the East Capital group ("East Capital"), a leading asset manager specialized in emerging and frontier markets, to provide a complete suite of fund services including custody, depositary, fund administration and transfer agency for its recently-launched China A-Shares Fund, a sub-fund under the East Capital (Lux) SCA, SICAV-SIF umbrella fund. This new mandate extends Citi's existing relationship with East Capital for which Citi already provides fund services.
With an on-the-ground presence in over 95 countries, Citi provides a unique network and a sophisticated fund services platform enabling global fund managers to extend their reach and business. The East Capital China A-Shares Fund, which invests in Renminbi-denominated A-shares listed on China's mainland stock exchanges in Shanghai and Shenzhen, is registered in Luxembourg and already fully subscribed.
"East Capital is the first fund management firm domiciled in the Nordic region to receive a quota approval from the State Administration of Foreign Exchange under the Qualified Foreign Institutional Investor (QFII) programme," Karine Hirn, Partner and Co-Founder of East Capital (based in Hong Kong), said. "Our partnership with Citi has been instrumental in ensuring the successful launch of the fund and we look forward to working with them to deliver incremental value to our investors."
"We are pleased to have been selected by East Capital to support the launch of their China A-Shares Fund," said Patrick Curtin, Head of Global Fund Services at Citi Investor Services. "This mandate highlights the strength of our long-term relationship with East Capital and our joint efforts to provide investors with access to investment opportunities in mainland China."