CITI to provide fund services for Income Partners’ MRF Northbound Fund

It will also provide share class hedging services amongst others.

Citi will be providing fund services, including transfer agency, for Income Partners Asset Management (HK) Limited for the operation of its first northbound fund.

The fund, under the Hong Kong-China Mutual Recognition of Funds (MRF) Scheme, comprises five additional share classes with exposure to USD and RMB.

“Citi is one of the very few service providers that have the necessary infrastructure and connectivity to support the unique features of MRF funds such as relevant information exchange and subscription and redemption orders flow from Mainland China to Hong Kong,” Citi’s APAC Head of Custody and Fund Services Julie Kerr said.

The Income Partners Managed Volatility High Yield Bond Fund is being made available to eligible mainland investors following approval from the China Securities Regulatory Commission.

It has also been authorised by the Securities and Futures Commission.

Moverover, Citi is expected to provide Trustee, Custody, Fund Administration, and Share Class Hedging services to all Income Partners’ Hong Kong public authorized funds.

Citi currently provides comprehensive Transfer Agency services in Hong Kong, Taiwan, Singapore, Indonesia, and Australia; and provides full Custody and Fund Services to more than 4600 funds across the Asia Pacific region.

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