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Custody Service for Asset Management Plan of Futures Companies

I. Product Overview
On December 4, 2014, China Futures Association released Management Rules on Asset Management Business of Futures Companies (For Trial Implementation) (Z.Q.X.Z. [2014] No. 100) which lowered the access threshold for futures companies to handle asset management business, specified that futures companies and their subsidiaries can handle asset management business for a single customer and specific several customers, and asked them to put their asset management plans into the custody of institutions which obtained qualifications to offer custody services to funds or private equity funds. ICBC has already cooperated with several futures companies to provide them with high-quality services.

II. Target Customers
Futures companies registered in China Futures Association and obtaining qualifications to handle asset management business and establishing the asset management plans, as well as their asset management subsidiaries.

III. Scope of Services
i. Opening of account: fund accounts, securities accounts and other related accounts will be opened for futures companies' asset management plans as required by regulators;
ii. Asset safekeeping: setting separate accounts for assets under custody, to guarantee the integrity and independence of fund assets;
iii. Clearing: timely handling the clearing and delivery of fund assets according to the investment instructions of fund managers;
iv. Investment supervision: supervise whether instructions and investment operation of the fund managers are compliant according to laws/regulations and requirements of the customers;
v. Accounting and valuation: apply accounting to fund, and review the net value of fund assets calculated by fund managers;
vi. Information disclosure: submitting the report on custody funds and financial statements to fund investors and regulators on a regular basis;
vii. Record keeping: keeping intact custody records, account books, reports and other related materials in connection with fund custody business for 15 years above, according to national regulations.

IV. Contact information
If you would like to apply for any service, please contact the Entrusted Asset Division II of Asset Custody Department of ICBC:
Liaison: Dun Wenkai, Guo Yuting
Tel.: (8610)66105690/5762
Fax: (8610)66105761
E-MAIL: duanwkzcgt@icbc.com.cn