BNY Mellon Asset Servicing has been appointed by the Industrial and Commercial Bank of China Limited (ICBC) as Overseas Custodian for its record breaking Qualified Domestic Institutional Investor (QDII) fund in China.

This mandate was won in partnership with BNY Mellon Asset Management, who has been appointed to provide sub-advisory services in relation to China Southern’s QDII fund mandated by China Southern Fund Management Co. Ltd (China Southern). China Southern’s QDII fund launched at a capped US$4 billion in assets having received US$6.5 billion in subscriptions from Chinese investors.

The QDII programme enables Chinese investors to access foreign fund management capabilities. China Southern, the first regulated fund management company in China, was amongst the first Chinese asset management companies to be authorised to develop and market QDII products. A leading selection of BNY Mellon Asset Management investment subsidiaries are the sub-advisors to China Southern on this mandate, which gives global equity exposure with alpha generated from asset allocation, stock selection, and long only fund selection.

BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialised asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services. BNY Mellon Asset Servicing provides services through The Bank of New York, Mellon Bank, N.A. and other related companies. (BNY Mellon)

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