Industrial and Commercial Bank of China (ICBC) has hired investment management and investment services firm Bank of New York Mellon Corp. (BNY Mellon) as global custodian for a new qualified domestic institutional investors (QDII) fund in China. The new vehicle Harvest Gold Fund was rolled out by Shanghai-headquartered Harvest Fund Management Co. in July.
BNY Mellon won its first global custody mandate for a QDII fund in 2007. It has been providing services in mainland China for over 15 years and has branches in Shanghai and Beijing.
Click here for the release from BNY Mellon.