Sun Life Asset Management has awarded an asset servicing mandate to Citi for its first fund to be listed in Hong Kong. Citi will act as fund administrator, custodian, trustee and transfer agent for the Sun Life AM Hong Kong ESG Index fund. The fund will track the Hang Seng ESG 50 Index and is one of a number of ESG funds to have been approved by the city’s authorities as it seeks to develop Hong Kong as a hub for sustainable investment. In May 2019 the Hong Kong Monetary Authority published plans to bolster its green finance credentials including a proposal to set up a Centre for Green Finance. “Across Asia Pacific, we are witnessing steady growth in ESG funds, and I believe Citi is well positioned to support such funds given our focus on ESG,” said Stewart Aldcroft, chairman of Cititrust Limited. © 2020 funds global asia