Fullgoal selects Deutsche Bank as custodian

Handshake contractFullgoal Asset Management has appointed Deutsche Bank as custodian and service provider for one of the first Ucits fixed income funds to have a renminbi quota. Deutsche Bank today announced it will provide custody, fund administration and transfer agency services and that the Fullgoal fund, which is domiciled in Luxembourg, is one of the first fixed income Ucits funds launched under China’s Renminbi Qualified Foreign Institutional Investor (RQFII) programme. The fund will initially comprise four sub-funds with four asset classes per sub-fund investing in Chinese equity and fixed income. Deutsche Bank Asset & Wealth Management helped set up the fund, which is structured as a Sicav under Ucits IV regulations. Based in Hong Kong, Fullgoal already manages a number of RQFII funds in China’s equity and fixed income markets. It ranks number 1 in Mainland China in managing mutual funds for institutional investors, based on assets under management, according to Deutsche Bank. Michael Chow, head of international business at Fullgoal, says investors now have a “wide range” of options for investing in Chinese assets. “We believe our offerings provide new investment avenues for global investors, who can benefit from our strong local market insight and expertise. As Fullgoal expands into Europe, we are pleased to be partnering with Deutsche Bank,” he concludes. ©2015 funds europe

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