Hong Kong – Citi announced today that it has worked with CSOP Asset Management to launch another set of unique Leveraged and Inverse (L&I) Products and will be providing CSOP with Custody, Fund Administration and Trustee Services.
The two new L&I products launched in Hong Kong track for the very first time China A-shares and allow investors to invest into the Mainland China CSI 300 Index. The first product allows for a leverage of two times [CSOP CSOP CSI 300 Index Daily (2x) Leveraged Product; 7233.HK], while the second allows for an inverse of one [CSOP CSI 300 Index Daily (-1x) Inverse Product; 7333.HK].
"We are delighted and honored to partner with Citi in the launch of our latest L&I offering. CSOP was able to leverage on Citi's multiple capabilities in bringing these products to the market. Citi has truly delivered for us as a franchise. We look forward to further strengthening our partnership in the future," said Ms. Chen Ding, Chief Executive Officer of CSOP Asset Management.
"I am incredibly proud that Citi is partnering once again with CSOP to launch such unique products that offer investors greater access to Mainland-related investment opportunities," said Julia Raiskin, Citi's APAC Head of Equities and Securities Services. "CSOP continues to be a major player in the Exchange Traded Products (ETP) space and the innovation behind this launch is testament to that."
According to the Hong Kong Stock Exchange, ETPs are one of the fastest growing investment products and have amassed US$6.3 trillion in assets under management globally as of June 2020 and traded over US$8.8 trillion in value.
"This is the third time this year that we are partnering with CSOP following product launches in May and June. It is a clear recognition of the value that Citi brings to the Asset Management sector and we are grateful to CSOP for their continued confidence in us," commented David Russell, Citi's APAC Head of Securities Services. "Globally and regionally we are increasing investment in our Securities Services operations so that we can continue to be the first port of call for our institutional clients."
Citi's Securities Services provides services to 133 ETPs for 24 issuers across the APAC region alone.
With over $21.5 trillion of assets under custody and administration and the industry-leading proprietary network spanning 63 markets, Citi's Custody and Fund Services business provides clients with in-depth local market expertise, advanced processing technologies and a wide range of fund services that can be tailored to meet clients' needs.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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