China Construction Bank chooses Multifonds 20 January 2014Beijing Reporter: Georgina Lavers
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China Construction Bank in Asia has become Multifond’s latest Asian client, choosing to implement the firm’s fund accounting, portfolio accounting and a transfer agency and investor servicing systems.
CCB (Asia) is one of Hong Kong’s leading retail and commercial banks, providing a comprehensive range of consumer and commercial banking products and services. It chose Multifonds after a competitive selection process. The bank will use Multifonds to help develop its RQFII (renminbi qualified foreign institutional investor) and alternative fund business in Hong Kong.
Michael Leung, deputy chief executive and CIO of CCB (Asia), said: “Multifonds offers us a comprehensive solution for both transfer agency and accounting that meets our growing alternative and traditional fund business needs. Specifically, it provides a breadth of functionality for alternatives, combined with fund distribution capabilities and controls.”
Michael Li, business development in China of Multifonds, said: “We’re delighted CCB (Asia) has chosen us to support their fund accounting, portfolio accounting and transfer agency needs. Multifonds was quick to recognise the importance of Asia to the global economy, and our software supports the local regulatory requirements of all of the region’s major economies.”
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