BNY Mellon Asset Servicing has been selected by China Construction Bank (CCB) as the global custodian for the upcoming QDII fund in China to be launched by Yinhua Fund Management Company.
The new Fund will be called Yinhua Anti-Inflation Theme Fund (LOF).
BNY Mellon Asset Servicing head of Asia Chong Jin Leow said with the State Administration of Foreign Exchange recently announcing it has granted quota to 87 QDII investors to invest $66.9bn globally as of the end of September, is a clear that confidence in QDIIs is returning after being out of favor for two years.
"In 2011 we expect to see a steady increase in the number of QDII launches if those already in the development process is a true indication of future trends," Leow said.
Yinhua is headquartered in Beijing and has offices in Shenzhen and Shanghai.
Founded in 2001, Yinhua has over RMB85bn of assets under management as of 31 December 2010 and was one of the first companies to receive a QDII license (Qualified Domestic Institutional Investor) license in 2007, enabling it’s clients to invest in international markets.