CACEIS wins Bank of China mandate

Bank of China (Luxembourg) SA has appointed CACEIS to provide custody, depositary, fund administration, fund distribution and other related asset services to its Luxembourg RMB RQFII UCITS fund.

This follows the bank’s recent approval from the Chinese financial regulator in which it became the first financial institution to take advantage of the RMB 50 billion RQFII investment quota granted to Luxembourg in April this year.

Lihong Zhou, CEO of Bank of China (Luxembourg) SA said: “We are keen to bring the benefits of the RQFII initiative to our investors. We believe this venture will enable us to significantly advance our goal of building up our own asset management platform whilst bringing great value to both our entities.”