Citi has been appointed by Income Partners Asset Management (HK) Limited to act as fund services provider, including transfer agency, for their 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-authorised fund, is being made available to eligible mainland investors following approval from the China Securities Regulatory Commission. The fund is comprised of five additional share classes with exposure in USD and RMB on a hedged and unhedged basis. In addition to acting as TA 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-authorised funds.
Suen Son Poon, COO of Income Partners, said: “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. We decided to partner with an institution that has an established track record in supporting funds using the MRF scheme.”