BNY Mellon Asset Servicing Selected as Global Custodian for Bank of China Investment Management's New QDII Fund

SHANGHAI, Jan. 26, 2011 /PRNewswire/ -- BNY Mellon Asset Servicing, the global leader in securities servicing, has been selected by China Construction Bank ("CCB") as the global custodian for the upcoming QDII fund in China to be launched by Bank of China Investment Management Co., Ltd (BOCIM).  The new Fund will be called BOC Global Strategic Fund (FOF) and is expected to launch in March 2011. BOCIM is a joint venture fund management company between Bank of China Co., Ltd. and BlackRock, Inc.

"The pace of QDII approvals is expected to continue in 2011," said Chong Jin Leow, head of Asia, BNY Mellon Asset Servicing. "This is welcome news. With QDIIs outperforming domestic equity funds in 2010 for the first time since the financial crisis, thanks to an improving global economy, it is likely that more Chinese will seek to increase their international exposure via QDIIs in 2011."

BNY Mellon was awarded the very first global custody mandate for a QDII fund in 2007 and today continues to be the leader with the largest market share in this funds segment in China.  

BNY Mellon's Leow, adds: "As Chinese asset managers continue to diversify their portfolios through increased investment overseas, demand for global custody and related services from institutions like BNY Mellon is on the rise.  We are a strong partner to Chinese asset managers, bringing our global experience and deep understanding of the infrastructure needed for QDIIs to help them achieve their international growth ambitions."

BNY Mellon has had a presence in mainland China for over 15 years with branches in Shanghai and Beijing. BNY Mellon provides a wide variety of products and services to Chinese institutional investors including asset management, asset servicing, treasury services and depositary receipts.

Notes to editors

BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $25.0 trillion in assets under custody and administration and $1.17 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available at www.bnymellon.com.

SOURCE BNY Mellon Asset Servicing

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