The latest offerings in investments, such as funds and structured products, and other notable developments.

Citigroup
Citigroup announced yesterday that it has been mandated by Income Partners Asset Management (HK) to act as fund services provider, including as the 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 Hong Kong-authorised fund, is being made available to eligible mainland investors following approval from the China Securities Regulatory Commission.

The fund comprises five additional share classes with exposure in dollars and yuan on a hedged and unhedged basis.

“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,” Julie Kerr, Citi’s APAC head of custody and fund services, said.

Citigroup, which provides comprehensive transfer agency services in Hong Kong, Taiwan, Singapore, Indonesia and Australia, also provides full custody and fund services to more than 4,600 funds across the Asia-Pacific region. Citi Security Services has more than $28.5 trillion of assets under custody and administration, operating in 64 markets.