Citi to Provide Fund Services for Income Partners Fund


Citi has been mandated by Income Partners Asset Management (HK) Limited to act as fund services provider including transfer agency for the latter’s first northbound fund under the Hong Kong-China Mutual Recognition of Funds (MRF) scheme. The Income Partners Managed Volatility High Yield Bond Fund, an existing SFC authorized fund, is being made available to eligible mainland investors following approval from the China Securities Regulatory Commission. The fund comprises of five additional share classes with exposure in USD and RMB on a hedged and unhedged basis.

Julie Kerr, Citi

“We are excited to be able to support one of Asia’s leading fixed income specialists here in Hong Kong as they operate their first northbound mutual fund,” said Julie Kerr, Citi’s APAC Head of Custody and Fund Services. “Citi is one of the very few service providers that has the necessary infrastructure and connectivity to support the unique features of MRF funds such as relevant information exchange and subscription and redemption orders flow from Mainland China to Hong Kong.”

“The launch of our first ever northbound fund using the MRF scheme is an incredibly important achievement for us as a Hong Kong based asset manager,” said Suen Son Poon, Chief Operating Officer at Income Partners. “We decided to partner with an institution that has an established track record in supporting funds using the MRF scheme.”

In addition to acting as transfer agent for the Income Partners Managed Volatility High Yield Bond Fund, Citi also provides trustee, custody, fund administration and share class hedging services to all Income Partners’ Hong Kong public authorized funds. Citi currently provides comprehensive Transfer Agency services in Hong Kong, Taiwan, Singapore, Indonesia and Australia and provides full Custody and Fund Services to more than 4600 funds across the Asia Pacific region.

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