MaplesFS is new trustee for China Life Franklin Asset Management
Latest news
MaplesFS is new trustee for China Life Franklin Asset Management 31 August 2012Hong Kong Reporter: Georgina Lavers
Image: Shutterstock
China Life Franklin Asset Management (CLFAM), the Hong Kong-based joint venture between China Life and Franklin Templeton, has selected MaplesFS as trustee and administrator for the China Life Franklin Trust, a Cayman Islands domiciled unit trust.
MaplesFS will act as the trustee for the China Life Franklin Trust, and will provide full administration services, including the fund accounting and registrar transfer agent services. In addition, MaplesFS' affiliated firm, Maples and Calder, has been appointed as Cayman Islands legal counsel to advise on the establishment of the unit trust alongside CLFAM's Hong Kong legal advisers.
“CLFAM has a unique set of selection criterion for service providers. We are very pleased that the Maples Group's experience and expertise in fund administration, fiduciary and legal advisory made us the obvious choice for CLFAM,” said Eastern Fong, regional head of fund services for Asia, Maples Fund Services.
“We expect to see more partnerships like the one between China Life and Franklin Templeton as Chinese firms look to tap into western markets.”
China Life Franklin Trust is an umbrella trust that was launched in December 2011. The Trust serves as a global resource allocation platform for professional management by centralising overseas asset management and providing investment consultation to China Life and third party clients. Its first fund focusing on special events was launched in March 2012.
“We are very pleased to have selected Maples as our service providers. Although we have not been working together for very long, we are impressed by their pragmatic approach to issues and the "whatever it takes" professionalism to deliver," said Eric Wang, portfolio manager at China Life Franklin Asset Management.
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: Shutterstock 