Fullgoal appoints Deutsche Bank for renminbi funds

RenminbiFullgoal Asset Management in Hong Kong has appointed Deutsche Bank as custodian and fund services provider for 'RQFII' assets, it was announced recently.

The appointment covers two new accounts under China's renminbi qualified foreign institutional investor (RQFII) scheme.

Deutsche will provide Fullgoal Asset Management with master custody, fund administration and transfer agency services in Hong Kong, as well as sub-custody and reporting services in mainland China for its RQFII funds.

Fullgoal Asset Management (HK) is a wholly owned subsidiary of Fullgoal Fund Management Co, which obtained its first RQFII licence from the China Securities Regulatory Commission on December 17, 2012.

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