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I. Business Overview
In February 1998, ICBC became the first commercial bank with custody qualifications for securities investment fund in China, and has been committed to rendering quality and efficient custody services for private securities investment funds of investors and private securities investment fund management institutions.
Custody services for private securities investment funds refer to the services provided by ICBC as the custodian, including providing asset custody, capital clearing, asset valuation, accounting, transaction supervision, and information disclosure for private securities investment funds, in accordance with the custody agreement signed between the trustee and the parties involved or the fund contract and other legal documents.
II. Target Customers
Private securities investment fund managers filed with the Asset Management Association of China.
III. Scope of Services
1.Account opening: Open special custody account, stock exchange securities account, interbank bond account, open-ended fund account and investment bank deposit account, which are subject to separate accounting and management.
2.Asset custody: Provide safe asset custody service, ensure that the assets under custody are independent of proprietary assets of the custodian and other types of assets under custody, and guarantee the completeness, independence and security of assets.
3.Capital clearing: Complete capital clearing and delivery & collection of securities in investments with entrusted assets timely and accurately, according to the manager’s transfer instruction.
4.Accounting: Keep complete and compliant accounting records of fund assets under custody, prepare accounting statements on a regular basis and regularly cross-check accounts with the manager to ensure the compliance and accuracy of accounting and financial records.
5.Asset valuation: Regularly valuate the market value of the fund assets under custody and cross-check the valuation results with the manager to ensure the manager have a timely and accurate knowledge of value fluctuations of assets under programs.
6.Information disclosure: Prepare statements and reports timely and accurately in accordance with regulations and custody agreements.
7.Transaction supervision: Supervise the operation of fund investment according to laws, regulations and custody agreements.
IV. Product Advantages
1.ICBC is the earliest bank to obtain custody qualification. In February 1998, the Bank obtained the custody qualification for securities investment fund, making it the first custodian bank in China.
2.ICBC has rich experience in the custody of securities investment funds. The Bank cooperates with renowned private securities investment management institutions, has sound policies and measures and standardized operations, and maintains zero risk in its custody service.
3.The custody service is highly professional. The custody practitioners are experienced, with key management personnel having over 20 years of financial industry experience. ICBC is the leader of a number of professional and technical groups as well as the developer of industry norms.
4.ICBC has strong risk prevention and control capabilities in the custody service for privately offered funds. Since starting the custody service for private securities investment funds, the Bank has maintained zero risk.
VI. Contact Information
If you would like to apply for any service, please contact the Entrusted Asset Division I of Asset Custody Department of ICBC.
Contact: Feng Han
Tel.: (8610) 66105301
E-MAIL: han.feng@icbc.com.cn
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