BNY Mellon Asset Servicing Selected As Overseas Custodian of China International Fund Management's QDII Fund

HONG KONG, December 4 /PRNewswire/ --

BNY Mellon Asset Servicing, the global leader in securities servicing, has been selected as Overseas Custodian for China International Fund Management Co.'s (CIFM) Asia Pacific Advantage Fund.

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CIFM is the fourth fund management company to receive a QDII (Qualified Domestic Institutional Investor) licence, enabling domestic Chinese investors to invest in international markets. Marketed as the CIFM Asia Pacific Advantage Fund, the fund will invest in markets including Hong Kong, Singapore, South Korea, Australia and India.

The initial success of China's fund management company (FMC) QDII scheme has resulted in record subscriptions, and the CIFM Asia Pacific Advantage Fund raised a record RMB 116 billion (US$ 15.4 billion) during the initial subscription period, well in excess of its US$ 4 billion quota.

Chong Jin Leow, head of Asia at BNY Mellon Asset Servicing, said: "Accelerating the already significant growth of our business in China is a strategic priority for us. Tremendous opportunities are opening up across the region and we are pleased that the solutions we are providing to institutions taking part in both the QDII and QFII sectors of the Chinese market have been so successful. We are honoured to have been selected for this important mandate."

Notes to editors

BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialised asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services. BNY Mellon Asset Servicing provides services through The Bank of New York, Mellon Bank, N.A. and other related companies.

The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has more than US$20 trillion in assets under custody and administration, more than US$1.1 trillion in assets under management and services US$11 trillion in outstanding debt. Additional information is available at bnymellon.com.

Web site: http://www.bnymellon.com