Citi Security Services has been chosen by Fubon Fund Management (Hong Kong) Company Limited to offer a comprehensive study and fund services for the next thematic ETF for Fubon, the Fubon ICE FactSet Asia Battery and Energy Storage Technology Index.
“We are honored that Fubon has once again chosen to work with Citi on their latest Hong Kong ETF,” Julie Kerr, Citi’s APAC Co-Head of Sales for Securities Services, said in a June 15 release by Citi. “Working with our colleagues in Citi Global Markets, we have been able to provide Fubon with a complete front to back service that caters to their every need.”
According to the release, the ETF listed under the symbol 3405 HK in Hong Kong, will benefit from Citi’s wide web of services and expertise in the custody and fund management space. This includes providing custody, fund accounting and administration, ETF processing, registrar services and also being the participating dealer for the ETF.
“We remain committed to the development of the Hong Kong ETF market and we continue to play an active role in supporting environmental sustainability, and our latest ETF is example of both these commitments,” said Alan Ng, Managing Director of Fubon Fund Management (HK) Limited, according to a press release by Citi. “Citi was a natural choice for us given its comprehensive suite of ETF services.”
Conor Hession, APAC Head of Fund Services of Citi Securities Services added: “By providing ACES technology, we have automated the primary market order placement and processing capability which is integrated downstream with our ETF registrar services” said according to a press release by Citi. As a result, Citi is increasingly the preferred partner of choice for ETF issuers.”
Citi will also be the ETF’s OFC custodian. They were the first to do such an act OFCs were launched by Hong Kong’s Securities and Futures Commission in July 2018. The company works with more than 40 ETF issuers.
Citi has about $27.1 trillion of assets under custody, administration and trust across more than 60 markets around the world.