Deutsche Bank has been appointed local custodian in Mainland China by BEA Union Investment Management.

Deutsche Bank’s investor services business, part of the Bank’s institutional cash and securities services unit – will provide BEA Union Investment with custody services for its RQFII investments. 

We are delighted to be working with BEA Union Investment as custodian bank in Mainland China. Deutsche Bank’s strong track record in servicing RQFII funds further demonstrates the Bank’s commitment to the Renminbi business,” said Mark Law, co-head of investor services sales, Asia Pacific, institutional cash and securities services at Deutsche Bank.

BEA Union Investment is a joint venture formed in 2007 between The Bank of East Asia of Hong Kong and Union Asset Management Holding AG of Germany. BEA Union Investment offers comprehensive investment solutions to retail, institutional and pension fund clients. 

“With the opportunities that the development of the securities market in Mainland China presents, our aim is to increase our investments via the QFII and RQFII schemes. We are pleased to have chosen Deutsche Bank as custodian for our RQFII investments,” said Rex Lo, managing director at BEA Union Investment Management. 

In addition to offering a full suite of RQFII-related services, Deutsche Bank (China) also received an inter-bank bond settlement agency licence from the People’s Bank of China in 2013, allowing the Bank to provide end-to-end bond services to eligible financial institutions around the globe, including bond trading and settlement services.