Overview
The Custody of Certain Customer Assets of Fund Management Company is the service where ABC acts as the custodian of particular customer assets for fund management companies (as asset managers) and keeps the assets in security in accordance with relevant laws and regulations.
Features
This custody service covers secure keeping of trust assets, accounting of trust assets, funds transfer based on the asset manager's instructions, supervision of investment activities of the asset managers in accordance with relevant regulations, and reporting of trust assets.
Procedures
1. The customer of the fund management company
· ABC negotiates with the fund management company.
· ABC, the fund management company and the customer signs a three-party Contract on the Management of Particular Assets which shall be submitted to the regulatory authority for filing.
· ABC starts the custody of trust assets.
2. The customer of ABC
· The customer files an application to ABC.
· ABC's customer department forwards the request to the custody department which will select a fund management company.
· ABC and the fund management company negotiate with the customer.
· The three parties sign the Contract on the Management of Particular Assets which shall be submitted to the regulatory authority for filing.
· ABC starts the custody of trust assets.
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