I. Basic Definition
Securities investment fund custody shows for securities companies refers to the financial service that ICBC performs the obligations such as safe custody of fund assets, asset valuation, fund receipt and payment, accounting, supervision on investments made by securities companies according to relevant regulations of regulatory authorities including CSRC and the provisions in the fund contracts.
II. Target Customers
Securities companies and asset management subsidiaries which establish securities investment fund.
III. Scope of Services
i. Asset custody: open fund account and securities i. account for fund assets, to ensure the safety, independence and integrity of fund assets.
ii. Accounting and asset valuation: keep complete and standardized accounting records for fund assets, prepare accounting statements on a regular basis, and check accounts with managers periodically, to ensure standardized and accurate accounting records; valuate the market value of fund assets on a periodic basis, and check valuation results with managers, so that fund holders can obtain the information about volatile value of fund assets on a timely and accurate basis.
iii. Clearing service: complete the clearing and settlement of securities involved in the investment activities relating to fund assets according to the transfer instructions of managers.
iv. Transaction supervision: supervise the investment and operation of fund assets according to related fund contracts and custody agreements.
v. Other value-added services: provide various value-added services as requested by fund holders and managers.
IV. Business Guide
i. Sign a fund contract and pay for subscription. During the promotion period, investor signs a fund contract and makes payment for subscription; upon the confirmation of manager, participation succeeds.
ii. Open an account. Custodian opens a fund custody account according to relevant laws and regulations.
iii. Establish the fund after capital verification. The fund is announced for establishment after capital verification.
iv. Hand over fund assets. Manager hands over fund assets to custodian pursuant to the amount of verified capital.
v. Custody operation. Services including asset custody, accounting, asset valuation, clearing and delivery will be provided according to fund contract and custody agreement, and investment and operation of fund assets will be supervised, with issue of custody reports on a regular basis.
V. Contact Information
If you would like to apply for any service, please contact local branch or sub-branch of ICBC or the Entrusted Asset Division I of Asset Custody Department under the Head Office of ICBC:
Contact person(s): Zhao Zhiguo