Published On: Thu, Nov 3rd, 2011

E Fund Appoints Citi For Fund Administration

Citi’s Securities and Fund Services, part of the Global Transaction Services division, has been appointed Fund Administrator for two recently-launched funds from E Fund Management (Hong Kong) Co., Ltd.

The new funds launched by E Fund are the emerging market long-only fund (launched on May 1) and emerging market long/short fund (launched on August 1). E Fund Management (Hong Kong) is also looking to launch a renminbi-denominated QFII retail fund by the end of the year.

Citi will provide a comprehensive service to E Fund, which will include fund administration and custody for the long-only fund, including custody in more than 15 emerging markets. Citi will also be providing hedge fund administration for their long/short fund.

The mandate demonstrates Citi’s commitment to securities and fund services and its continued success in developing strong relationships with Chinese asset managers in Hong Kong. Citi offers these asset managers a full range of services across any of their fund strategies and structures. Citi is also able to offer the breadth of their network to managers such as E Fund, who have aspirations to grow internationally.

David Russell, Regional Head, Asia Pacific, Securities and Fund Services, Citi, said, “We are very pleased that E Fund has chosen to work with us as they expand their business to meet the demands of investor clients. With Citi, clients can continue to capitalize on our capabilities across the trade lifecycle, enabling growth, reducing costs and mitigating risks.”

Charles Wang, CEO of E Fund, said, “As E Fund stays focused on our core competency of Greater China and the global emerging markets, Citi is the natural choice as a service provider for us. Their strong presence on-the-ground in these markets, combined with their global expertise, makes them a strong partner for us as we continue to expand our business internationally.”

Through its Securities and Fund Services business, Citi’s industry-focused experts provide investors worldwide with tailored solutions delivered through proven global platforms that feature modular, open architecture. With over $12.5 trillion of assets under custody and the industry’s largest proprietary network, clients can leverage Citi’s local market expertise and global reach to extract value across the entire investment value chain.

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