Hoping to capitalize on the impending launch of open-ended funds in China, Deutsche Bank has entered into an exclusive alliance with the Bank of China BOC to jointly develop custody services in China.
Under the terms of the agreement, BOC will share its knowledge on local market practices and its network of local business contacts. We will use the information to provide custody services for Chinese fund managers looking to invest overseas, says Ann Wong, spokesperson for Deutsche Bank.
Currently the market is tightly regulated and foreign banks are only allowed to participate in custodial services for the B-share market. There are a lot of funds and deposits not yet captured...
