Hong Kong – Citi has been selected by Fubon Fund Management (Hong Kong) Limited to act as service provider for their inaugural ETPs launched in Hong Kong. Citi will act as trustee and will provide Fubon with fund accounting and custody services. The ETPs: Fubon FTSE Taiwan Daily (-1x) Inverse Product and Fubon FTSE Taiwan Daily (2x) Leveraged Product, are the first Taiwan Index Leveraged and Inverse Products to be launched in Hong Kong.
"We are incredibly honored to be selected by Fubon as service provider for their inaugural ETPs to be launched in Hong Kong," said Julie Kerr, Citi's APAC Head of Custody and Fund Services. "Citi is a leading provider of custody and fund services in the APAC region and we continue to invest in our ETP service offering with the ultimate goal of being the provider of choice for ETP issuers."
"Launching our first ETP in the Hong Kong market is an important milestone for Fubon; equally important is working with the right service provider with a proven track record and for us that is Citi," said Alan Ng, Managing Director of Fubon Fund Management (Hong Kong) Limited. "Hong Kong represents a very important market for Fubon, and we hope to continue to work with Citi as we bring more ETPs to market."
Citi's Custody and Fund Services team regularly provide services for ETPs and has achieved a number of firsts in Hong Kong, including being the first to provide OFC custodian, fund administration and ETF services to OFC ETFs. Citi is now the first service provider to provide trustee, custody and fund administration services to a Taiwan-related ETP in Hong Kong. Citi at present provides services to over 165 ETPs from 26 issuers across the APAC region alone.
With over US$28.5 trillion1 of assets under custody and administration and the industry-leading proprietary network spanning over 64 markets, Citi Securities Services provides clients with in-depth local market expertise, advanced processing technologies and a wide range of custody and fund services that can be tailored to meet clients' needs.
1 As of Q1 2021 AUC/A figure separately represents gross assets for which Citi provides Global Custody and sub-custodian services via its Direct Custody and Clearing business. Citi previously reported AUC/A numbers on a net basis, therefore discounting assets serviced by both businesses.
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.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi.
Godwin Chellam | +852 28687682 | email@example.com