News

Deutsche Bank wins custody deal for two RQFII accounts

Signing dealThe Hong Kong branch of Chinese asset manager Fullgoal Fund Management has appointed Deutsche Bank to provide custody and fund services for two accounts under the renminbi qualified foreign institutional investor (RQFII) scheme.

The accounts allow Fullgoal's RQFII funds to buy China A-shares using offshore renminbi, an increasingly popular way for international investors to access mainland Chinese equities.

Deutsche Bank's Investor Services business will provide Fullgoal with master custody, fund administration and transfer agency services in Hong Kong, as well as sub-custody and reporting services in mainland China for its RQFII funds.

"RQFII-related services are core to our offering in the Greater China region, and this is a part of our business which has been growing exponentially," says Tim Liu, Greater China head of investor services, Global Transaction Banking, Deutsche Bank.

Established in 1999 and based in Shanghai, Fullgoal launched its Hong Kong subsidiary in November 2012. The subsidiary gained its first RQFII licence from the China Securities Regulatory Commission in December 2012.

©2015 funds global asia

Executive Interviews

Executive interview: PGIM CEO on where the ESG flowers should bloom

Sep 27, 2021

David Hunt, president and chief executive of PGIM, tells Romil Patel about leading a top 10 global asset manager in times where “empowering and encouraging the kind of investment decisions as...

Executive interview: Nicolas Moreau’s orderly transition

Jul 12, 2021

Nicolas Moreau, CEO of HSBC Asset Management, is moving to Asia as the firm looks to connect more directly with the region’s growth story. ESG is also a key focus – including the ‘just’ carbon...

Roundtables

Roundtable: Singapore comes of age as an Asian ESG hub

Dec 01, 2021

Strong ESG credentials strengthen the case for Singapore as a leader in Asia of the post-Covid recovery. Our panel discusses the risks and opportunities.

Roundtable: How well geared are Japanese assets for a new world?

Jul 12, 2021

As we prepare to emerge from Covid, experts look at overcoming demographic issues through a combination of good tech and corporate governance, improving productivity and meeting an ambitious government carbon emissions reduction target. Chaired by Romil Patel.