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  Home Page > Corporate Banking >Assets Custody Business >Fund Outsourcing Service
Fund Outsourcing Service

I. Product Overview
Fund outsourcing service means that ICBC, as a service provider, accepts the entrustment from institutions such as fund management companies, insurance asset management companies, trust companies and futures companies, to provide financial services for fund, including accounting, asset valuation, customer service, registration and information disclosure.
Currently, outsourcing of global asset management business has been a mainstream, a practice generally adopted in the international capital market, and also an important area for financial innovation as encouraged in the new fund laws of China. The promotion of fund outsourcing will help improve the efficiency of capital market. By transferring some operational functions to outsourcing service provider, fund companies can reduce repetitive construction, achieve intensive operation, focus on investment research, and input limited resources in the enhancement of core competitiveness, thus further improving investment management. In the meantime, commercial banks, by providing fund outsourcing service, can integrate custody, settlement and account management services, provide a platform for product innovation in the asset management industry, and generate more income for investors.

II. Target Customers
i.Fund management companies;
ii.Insurance asset management companies;
iii.Trust investment companies;
iv.Securities companies;
v.Futures companies; and
vi.Other institutions approved by regulatory authorities.

III. Scope of Services
i. Accounting: collate the accounting information about fund investment and operation, accurately record the changes in fund assets, and timely provide financial information and accounting statements to fund managers.
ii. Valuation: valuate fund assets and liabilities as per fair value, to determine the net value of funds assets and shares.
iii. Information disclosure: provide financial data concerning regular and irregular reports to fund managers, and assist fund managers to prepare and submit such reports.
iv. Registration (TA): provide services including account management for fund investors, share registration, clearing, transaction processing, dividend payment, establishment and keeping of fund holder register.
v. Other services: other customised requests proposed by customers.

IV. Advantages
As the largest custodian bank in China, ICBC has maintained its first position in the market for 16 years in terms of market share of asset custody business.
Through more than 10 years of development, ICBC has reserved a professional team for accounting and valuation services with certain influence in the industry. It has established an operational team for professional outsourcing service, which, independent of the asset custody team, specially undertakes fund outsourcing service, covering marketing, internal control, domestic and overseas accounting, processing of instructions and information disclosure, with an aim to provide customers with professional and efficient outsourcing services.
ICBC's core fund outsourcing service system is independently developed, equipped with general peripheral procurement system and common system outreach interface, with the purposes of ensuring basic outsourcing services while improving system scalability, and satisfying current needs of capital market for valuation and accounting services.

V. Business Guide
i. Business contact: customers with a request for fund outsourcing service can contact the Asset Custody Department of the Head Office or local branches of ICBC.
ii. Signing of agreement: an appropriate outsourcing scheme will be designed according to the features and requirements of customer’s products, with the signing of an outsourcing agreement.
iii. Outsourcing operation: outsourcing services will be provided for customers according to outsourcing agreement, including accounting, asset valuation, information disclosure and registration etc.

VI. Contact Information
If you would like to apply for any service, please contact the Outsourcing Center of Asset Custody Department under the Head Office or local branches of ICBC:
Contact person(s): Zhao Huijun, Wang Yining, Wang Juyue, Wang Bowen, Yang Jin, Ren Huaqiong, Tao Xiaoxuan
Tel: (8610) 66109603/5792/4969/5689/4925
Fax: (8610) 81013684